Financial Perspectives Inc Invests $62,000 in Cintas Co. (NASDAQ:CTAS)

Financial Perspectives Inc bought a new stake in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 340 shares of the business services provider’s stock, valued at approximately $62,000.

Several other large investors have also recently added to or reduced their stakes in CTAS. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares during the period. Wellington Management Group LLP increased its position in Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC grew its stake in shares of Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after buying an additional 1,988 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Up 2.2 %

Shares of NASDAQ CTAS opened at $208.14 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 1 year low of $152.77 and a 1 year high of $228.12. The stock’s 50-day simple moving average is $196.78 and its 200-day simple moving average is $207.96. The firm has a market cap of $83.99 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 3.94 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $3.61 EPS. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio is presently 37.61%.

Cintas 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.