Miracle Mile Advisors LLC Acquires New Position in Cintas Co. (NASDAQ:CTAS)

Miracle Mile Advisors LLC bought a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,748 shares of the business services provider’s stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its position in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cintas by 309.7% during the third 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 in the last quarter. Franklin Resources Inc. boosted its position 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 valued at $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after buying an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

CTAS opened at $198.05 on Friday. The stock has a market cap of $79.92 billion, a price-to-earnings ratio of 47.75, a price-to-earnings-growth ratio of 3.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm’s fifty day moving average is $206.18 and its 200 day moving average is $204.81. Cintas Co. has a fifty-two week low of $146.29 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $3.61 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is currently 37.61%.

Wall Street Analyst Weigh In

CTAS has been the topic of several research analyst reports. Barclays upped their target price on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Finally, Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $198.46.

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.