Raymond James Financial Inc. Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Raymond James Financial Inc. acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 526,997 shares of the business services provider’s stock, valued at approximately $96,282,000. Raymond James Financial Inc. owned 0.13% of Cintas at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CTAS. Guardian Wealth Advisors LLC raised its stake in shares of Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock worth $318,000 after buying an additional 52 shares in the last quarter. MGB Wealth Management LLC raised its stake in shares of Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock worth $1,328,000 after buying an additional 52 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock worth $512,000 after buying an additional 55 shares in the last quarter. S.A. Mason LLC raised its stake in shares of Cintas by 3.3% during the 4th quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock worth $311,000 after buying an additional 55 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its stake in shares of Cintas by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 1,213 shares of the business services provider’s stock worth $222,000 after buying an additional 63 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $203.06 on Friday. Cintas Co. has a one year low of $154.15 and a one year high of $228.12. The business’s fifty day moving average price is $198.90 and its two-hundred day moving average price is $209.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $81.94 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.59%.

Analysts Set New Price Targets

Several research firms recently weighed in on CTAS. Wells Fargo & Company dropped their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Robert W. Baird dropped their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $199.79.

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.