Pacer Advisors Inc. boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 8.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,390 shares of the business services provider’s stock after purchasing an additional 4,535 shares during the quarter. Pacer Advisors Inc.’s holdings in Cintas were worth $11,546,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Kera Capital Partners Inc. boosted its holdings in shares of Cintas by 38.7% in the 4th quarter. Kera Capital Partners Inc. now owns 2,542 shares of the business services provider’s stock valued at $487,000 after buying an additional 709 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Cintas in the 4th quarter worth approximately $37,000. Cambient Family Office LLC purchased a new position in shares of Cintas in the 4th quarter worth approximately $290,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Cintas by 108.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,931 shares of the business services provider’s stock worth $4,125,000 after acquiring an additional 11,431 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in shares of Cintas by 24.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 21,388 shares of the business services provider’s stock worth $4,022,000 after acquiring an additional 4,232 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on CTAS. Stifel Nicolaus decreased their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Truist Financial reduced their price target on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Finally, Citigroup lowered their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $215.92.
Cintas Stock Performance
CTAS opened at $170.85 on Friday. The company has a market cap of $68.36 billion, a P/E ratio of 48.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average price is $173.50 and its 200-day moving average price is $183.88. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75.
Cintas (NASDAQ:CTAS – Get Free Report) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting analysts’ consensus estimates of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business earned $1.13 EPS. As a group, equities analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.
Cintas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.
Insider Activity
In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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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