Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,276 shares of the business services provider’s stock after selling 3,875 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cintas were worth $14,028,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP raised its position in shares of Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 42 shares during the period. Janiczek Wealth Management LLC increased 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 worth $30,000 after acquiring an additional 26 shares during the period. Catalyst Capital Advisors LLC increased its position in Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares during the period. Sunbelt Securities Inc. bought a new position in Cintas during the first quarter worth $36,000. Finally, Clearstead Advisors LLC bought a new position in Cintas during the third quarter worth $39,000. Institutional investors own 63.46% of the company’s stock.
Cintas Price Performance
Shares of NASDAQ:CTAS traded down $1.15 on Friday, hitting $661.29. The stock had a trading volume of 390,055 shares, compared to its average volume of 380,657. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The firm’s 50 day moving average price is $643.04 and its 200-day moving average price is $587.98. The company has a market capitalization of $67.03 billion, a price-to-earnings ratio of 45.67, a price-to-earnings-growth ratio of 3.87 and a beta of 1.27.
Cintas (NASDAQ:CTAS – Get Free Report) last issued 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. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Cintas Co. will post 14.95 earnings per share for the current year.
Cintas Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.82%. Cintas’s dividend payout ratio is 37.29%.
Analysts Set New Price Targets
CTAS has been the topic of a number of research reports. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Bank of America boosted 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Oppenheimer reiterated a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Finally, UBS Group lifted their price target on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $661.21.
View Our Latest Report on CTAS
Cintas Company Profile
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.
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