Optas LLC increased its stake in Cintas Co. (NASDAQ:CTAS – Free Report) by 6.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,167 shares of the business services provider’s stock after buying an additional 67 shares during the period. Optas LLC’s holdings in Cintas were worth $213,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Management Professionals Inc. lifted its position in shares of 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 purchasing an additional 99 shares during the period. Hollencrest Capital Management raised its stake in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the last quarter. Sound Income Strategies LLC acquired a new position in Cintas in the fourth quarter valued at $27,000. Addison Advisors LLC boosted its position in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CTAS has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group cut their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Robert W. Baird dropped their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report 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 assigned a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and an average price target of $198.46.
Cintas Price Performance
Shares of NASDAQ:CTAS opened at $200.61 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $80.95 billion, a PE ratio of 48.37, a price-to-earnings-growth ratio of 3.87 and a beta of 1.38. The stock’s fifty day simple moving average is $200.71 and its two-hundred day simple moving average is $206.91. Cintas Co. has a 1-year low of $150.70 and a 1-year high of $228.12.
Cintas (NASDAQ:CTAS – Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the firm earned $3.61 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.
Cintas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. Cintas’s dividend payout ratio (DPR) is currently 37.61%.
Cintas Company Profile
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.
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