HighPoint Advisor Group LLC Purchases 307 Shares of Cintas Co. (NASDAQ:CTAS)

HighPoint Advisor Group LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,316 shares of the business services provider’s stock after purchasing an additional 307 shares during the period. HighPoint Advisor Group LLC’s holdings in Cintas were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. State Street Corp lifted its holdings in Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 6,235,052 shares during the period. Norges Bank bought a new position in shares of Cintas in the 4th quarter worth $877,216,000. Franklin Resources Inc. grew its stake in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.4 %

Shares of Cintas stock opened at $208.67 on Thursday. The firm has a market cap of $84.21 billion, a PE ratio of 50.31, a P/E/G ratio of 3.98 and a beta of 1.41. The business’s 50 day simple moving average is $201.48 and its 200 day simple moving average is $204.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.84 earnings per share. On average, analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTAS shares. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. UBS Group boosted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Finally, Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $210.58.

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.