Park Avenue Securities LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Park Avenue Securities LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 12.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,780 shares of the business services provider’s stock after purchasing an additional 3,294 shares during the period. Park Avenue Securities LLC’s holdings in Cintas were worth $5,623,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Moors & Cabot Inc. lifted its holdings in Cintas by 6.9% in the second quarter. Moors & Cabot Inc. now owns 757 shares of the business services provider’s stock valued at $530,000 after acquiring an additional 49 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Cintas by 74.1% in the second quarter. Edgestream Partners L.P. now owns 2,463 shares of the business services provider’s stock valued at $1,725,000 after purchasing an additional 1,048 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares in the last quarter. E Fund Management Co. Ltd. grew its position in Cintas by 1.9% during the second quarter. E Fund Management Co. Ltd. now owns 997 shares of the business services provider’s stock worth $698,000 after buying an additional 19 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its position in Cintas by 3.3% during the second quarter. Meiji Yasuda Life Insurance Co now owns 2,318 shares of the business services provider’s stock worth $1,623,000 after buying an additional 75 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $195.70 on Thursday. The business’s 50-day simple moving average is $206.61 and its 200 day simple moving average is $204.87. The company has a market cap of $78.97 billion, a P/E ratio of 49.42, a PEG ratio of 4.16 and a beta of 1.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $146.29 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.61 earnings per share. On average, sell-side analysts forecast that Cintas Co. will post 4.23 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 paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTAS. Jefferies Financial Group decreased their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. The Goldman Sachs Group reduced their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group lowered their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird lowered their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus price target of $198.46.

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.