Van ECK Associates Corp increased its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,364 shares of the business services provider's stock after acquiring an additional 1,264 shares during the period. Van ECK Associates Corp's holdings in Cintas were worth $9,259,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Janiczek Wealth Management LLC increased its stake in Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider's stock valued at $30,000 after buying an additional 26 shares during the period. Catalyst Capital Advisors LLC increased its holdings in Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider's stock worth $36,000 after buying an additional 19 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Cintas during the fourth quarter valued at approximately $46,000. Oakworth Capital Inc. acquired a new stake in Cintas in the fourth quarter valued at approximately $48,000. Finally, Raleigh Capital Management Inc. grew its position in Cintas by 66.7% in the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider's stock worth $41,000 after acquiring an additional 34 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Cintas Stock Performance
Shares of CTAS stock traded up $11.75 during mid-day trading on Friday, reaching $674.04. The stock had a trading volume of 420,713 shares, compared to its average volume of 350,939. Cintas Co. has a one year low of $456.57 and a one year high of $704.84. The firm has a market cap of $68.33 billion, a PE ratio of 46.55, a P/E/G ratio of 3.89 and a beta of 1.27. The firm's 50 day simple moving average is $651.72 and its 200 day simple moving average is $597.57. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.
Shares of Cintas are scheduled to split on the morning of Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the market closes on Wednesday, September 11th.
Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the business earned $3.14 earnings per share. The company's quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts forecast that Cintas Co. will post 14.95 EPS for the current year.
Cintas Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.80%. Cintas's payout ratio is presently 37.29%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Bank of America lifted their price objective on shares of Cintas from $700.00 to $790.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price objective on Cintas from $673.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, March 28th. Barclays increased their price target on Cintas from $630.00 to $700.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cintas from $629.00 to $726.00 and gave the stock a "hold" rating in a research note on Thursday, March 28th. Finally, Robert W. Baird raised their target price on shares of Cintas from $660.00 to $750.00 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $661.21.
Check Out Our Latest Analysis on Cintas
About Cintas
(
Free Report)
Cintas Corporation provides 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.
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