Great Lakes Advisors LLC reduced its stake in shares of Cintas Co. (NASDAQ:CTAS) by 12.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,579 shares of the business services provider’s stock after selling 527 shares during the quarter. Great Lakes Advisors LLC’s holdings in Cintas were worth $708,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Fort L.P. acquired a new position in shares of Cintas in the 2nd quarter valued at about $118,000. Polaris Greystone Financial Group LLC acquired a new position in shares of Cintas in the 3rd quarter valued at about $154,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Cintas in the 3rd quarter valued at about $184,000. Piedmont Investment Advisors LLC acquired a new position in shares of Cintas in the 2nd quarter valued at about $181,000. Finally, Ropes Wealth Advisors LLC acquired a new position in shares of Cintas in the 2nd quarter valued at about $185,000. 66.37% of the stock is owned by institutional investors.
Several research analysts have recently commented on CTAS shares. Robert W. Baird set a $235.00 price target on shares of Cintas and gave the company a “buy” rating in a report on Tuesday, October 30th. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a report on Friday, September 28th. BidaskClub lowered shares of Cintas from a “strong-buy” rating to a “buy” rating in a report on Friday, October 19th. ValuEngine lowered shares of Cintas from a “buy” rating to a “hold” rating in a report on Friday. Finally, Credit Suisse Group began coverage on shares of Cintas in a research report on Friday, August 10th. They issued a “neutral” rating and a $205.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $202.17.
Shares of NASDAQ:CTAS opened at $171.40 on Friday. The stock has a market capitalization of $19.01 billion, a P/E ratio of 28.86, a PEG ratio of 2.04 and a beta of 1.03. Cintas Co. has a fifty-two week low of $147.38 and a fifty-two week high of $217.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.65 and a current ratio of 3.10.
Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.13. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.68 billion. Cintas had a net margin of 12.72% and a return on equity of 24.13%. Cintas’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.45 EPS. On average, research analysts expect that Cintas Co. will post 7.24 earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were given a $2.05 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This is an increase from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. Cintas’s dividend payout ratio (DPR) is currently 34.51%.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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