Financial Perspectives Inc Takes $62,000 Position in Cintas Co. (NASDAQ:CTAS)

Financial Perspectives Inc purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 340 shares of the business services provider’s stock, valued at approximately $62,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC lifted its holdings in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its stake in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. raised its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTAS. Wells Fargo & Company dropped 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. The Goldman Sachs Group dropped their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial reduced their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group dropped their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Up 2.2 %

CTAS stock opened at $208.14 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 12 month low of $152.77 and a 12 month high of $228.12. The firm has a market capitalization of $83.99 billion, a PE ratio of 50.18, a P/E/G ratio of 3.94 and a beta of 1.38. The company’s 50 day simple moving average is $196.78 and its 200-day simple moving average is $207.96.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is 37.61%.

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.