Palmer Knight Co boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,621 shares of the business services provider’s stock after purchasing an additional 5,422 shares during the quarter. Cintas makes up 4.1% of Palmer Knight Co’s investment portfolio, making the stock its 12th biggest holding. Palmer Knight Co’s holdings in Cintas were worth $7,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of CTAS. Stevens Capital Management LP purchased a new stake in shares of Cintas during the fourth quarter worth approximately $390,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Cintas by 4.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 834,142 shares of the business services provider’s stock worth $154,216,000 after acquiring an additional 35,915 shares during the last quarter. AssuredPartners Investment Advisors LLC grew its holdings in Cintas by 102.2% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 4,323 shares of the business services provider’s stock worth $813,000 after acquiring an additional 2,185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Cintas by 0.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 94,225 shares of the business services provider’s stock worth $17,721,000 after acquiring an additional 374 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Cintas by 3.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 15,359 shares of the business services provider’s stock valued at $2,889,000 after purchasing an additional 470 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on CTAS. Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. Stifel Nicolaus dropped their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and upped their price objective for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $215.17.
Cintas Stock Performance
NASDAQ CTAS opened at $169.25 on Wednesday. The company has a fifty day moving average of $182.98 and a two-hundred day moving average of $187.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas Corporation has a 1 year low of $165.46 and a 1 year high of $229.24. The company has a market capitalization of $67.72 billion, a PE ratio of 47.81, a P/E/G ratio of 2.94 and a beta of 0.96.
Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. As a group, analysts expect that Cintas Corporation will post 4.89 earnings per share for the current year.
Cintas Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s payout ratio is currently 50.85%.
Insider Buying and Selling at Cintas
In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.90% of the company’s stock.
About Cintas
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
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