Parsons Capital Management Inc. RI Has $672,000 Stock Position in Cintas Co. (NASDAQ:CTAS)

Parsons Capital Management Inc. RI reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 978 shares of the business services provider’s stock after selling 205 shares during the period. Parsons Capital Management Inc. RI’s holdings in Cintas were worth $672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Rise Advisors LLC purchased a new position in shares of Cintas during the 1st quarter valued at $30,000. Janiczek Wealth Management LLC boosted its position in Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the last quarter. Webster Bank N. A. purchased a new position in Cintas in the first quarter valued at about $38,000. DSM Capital Partners LLC acquired a new position in Cintas in the 4th quarter worth about $40,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Cintas during the 1st quarter worth about $45,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird increased their price objective on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Barclays raised their price target on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. The Goldman Sachs Group upped their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Bank of America increased their target price on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price target on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Stock Performance

Shares of CTAS stock traded up $0.98 during trading hours on Friday, reaching $666.23. 274,164 shares of the company’s stock were exchanged, compared to its average volume of 368,220. Cintas Co. has a fifty-two week low of $440.01 and a fifty-two week high of $704.84. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $67.54 billion, a P/E ratio of 46.01, a P/E/G ratio of 3.90 and a beta of 1.27. The business has a fifty day moving average price of $648.22 and a 200-day moving average price of $594.56.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.14 EPS. Analysts predict that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s dividend payout ratio is 37.29%.

About Cintas

Cintas Corporation provides 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.