Forsta AP Fonden Raises Stake in Cintas Co. (NASDAQ:CTAS)

Forsta AP Fonden boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 117,800 shares of the business services provider’s stock after buying an additional 5,800 shares during the period. Forsta AP Fonden’s holdings in Cintas were worth $21,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. Quarry LP lifted its holdings in Cintas by 500.0% in the 2nd quarter. Quarry LP now owns 108 shares of the business services provider’s stock worth $76,000 after purchasing an additional 90 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Addison Advisors LLC grew its stake in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 134 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTAS shares. Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lifted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $198.46.

Cintas Trading Down 1.1 %

CTAS opened at $200.43 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $202.36 and its two-hundred day moving average is $206.39. The company has a market capitalization of $80.88 billion, a P/E ratio of 48.33, a PEG ratio of 3.84 and a beta of 1.37. Cintas Co. has a 52 week low of $148.87 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results 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 firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $3.61 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.78%. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

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.