Cintas Co. (NASDAQ:CTAS) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Cintas Co. (NASDAQ:CTAS) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,468,080 shares of the business services provider’s stock after purchasing an additional 219,809 shares during the period. Geode Capital Management LLC’s holdings in Cintas were worth $1,544,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. National Bank of Canada FI grew its position in Cintas by 70.7% during the fourth quarter. National Bank of Canada FI now owns 455,565 shares of the business services provider’s stock valued at $83,232,000 after buying an additional 188,745 shares during the period. HighPoint Advisor Group LLC boosted its stake in shares of Cintas by 10.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,316 shares of the business services provider’s stock worth $606,000 after acquiring an additional 307 shares in the last quarter. Meeder Asset Management Inc. grew its position in shares of Cintas by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 134 shares during the period. Axiom Investors LLC DE increased its stake in shares of Cintas by 14.0% in the 4th quarter. Axiom Investors LLC DE now owns 910,992 shares of the business services provider’s stock valued at $166,438,000 after purchasing an additional 111,772 shares in the last quarter. Finally, AIA Group Ltd acquired a new position in Cintas in the 4th quarter worth about $2,430,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.1 %

Shares of CTAS opened at $207.87 on Wednesday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The firm has a market capitalization of $83.88 billion, a P/E ratio of 50.12, a P/E/G ratio of 3.98 and a beta of 1.41. The firm has a 50-day moving average price of $201.29 and a 200 day moving average price of $204.61. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the company posted $3.84 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analyst Ratings Changes

Several brokerages have commented on CTAS. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. UBS Group lifted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Robert W. Baird lifted their target price on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Finally, Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $210.58.

About Cintas

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.