ExodusPoint Capital Management LP Cuts Stake in Cintas Co. (NASDAQ:CTAS)

Posted by Defense World Staff on Jun 10th, 2023

ExodusPoint Capital Management LP decreased its holdings in Cintas Co. (NASDAQ:CTAS – Get Rating) by 61.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,033 shares of the business services provider’s stock after selling 6,315 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Cintas were worth $1,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CTAS. Patton Fund Management Inc. bought a new stake in Cintas during the 4th quarter valued at approximately $201,000. Oppenheimer & Co. Inc. boosted its position in Cintas by 24.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,098 shares of the business services provider’s stock valued at $1,399,000 after purchasing an additional 599 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Cintas in the third quarter valued at about $224,000. Astoria Portfolio Advisors LLC. raised its stake in shares of Cintas by 17.2% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 810 shares of the business services provider’s stock worth $354,000 after purchasing an additional 119 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Cintas by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 27,750 shares of the business services provider’s stock valued at $10,773,000 after acquiring an additional 594 shares in the last quarter. Institutional investors own 61.92% of the company’s stock.

Cintas Stock Down 0.6 %

Cintas stock opened at $480.43 on Friday. The firm has a market cap of $48.86 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 2.97 and a beta of 1.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.10 and a quick ratio of 1.71. Cintas Co. has a fifty-two week low of $343.86 and a fifty-two week high of $486.30. The firm has a fifty day moving average price of $463.73 and a two-hundred day moving average price of $451.80.

Cintas (NASDAQ:CTAS – Get Rating) last announced its quarterly earnings results on Wednesday, March 29th. The business services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.13. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Cintas had a net margin of 15.06% and a return on equity of 38.12%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.69 earnings per share. As a group, analysts forecast that Cintas Co. will post 12.83 earnings per share for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 12th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 0.96%. Cintas’s dividend payout ratio is 36.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CTAS shares. Argus lifted their price target on Cintas from $500.00 to $510.00 in a research note on Thursday, March 30th. 1-800-FLOWERS.COM reissued an “initiates” rating on shares of Cintas in a research note on Thursday, April 27th. Robert W. Baird upped their price objective on Cintas from $500.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday, March 30th. Jefferies Financial Group cut Cintas from a “buy” rating to a “hold” rating and decreased their target price for the company from $512.00 to $487.00 in a research report on Friday, March 31st. Finally, Morgan Stanley upped their price objective on Cintas from $401.00 to $419.00 and gave the company an “equal weight” rating in a research note on Thursday, March 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $505.00.

Cintas Company Profile

(Get Rating)

Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.