Bar Harbor Wealth Management Trims Stake in Cintas Co. (NASDAQ:CTAS)

Bar Harbor Wealth Management lowered its position in Cintas Co. (NASDAQ:CTAS) by 11.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,560 shares of the business services provider’s stock after selling 456 shares during the quarter. Bar Harbor Wealth Management’s holdings in Cintas were worth $650,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. increased its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management increased its position in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Addison Advisors LLC raised its stake in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Grove Bank & Trust lifted its position in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in Cintas by 321.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock worth $33,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Performance

Cintas stock opened at $190.60 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market cap of $76.92 billion, a P/E ratio of 48.13, a P/E/G ratio of 4.15 and a beta of 1.37. Cintas Co. has a 1-year low of $146.29 and a 1-year high of $228.12. The firm has a 50-day moving average of $206.94 and a 200-day moving average of $204.75.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $3.61 EPS. Sell-side analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.