C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes $879,000 Position in Cintas Co. (NASDAQ:CTAS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) during the fourth quarter, HoldingsChannel reports. The firm acquired 4,813 shares of the business services provider’s stock, valued at approximately $879,000.

Several other institutional investors have also added to or reduced their stakes in CTAS. State Street Corp boosted its position in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC lifted its position in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its position in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after buying an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Truist Financial reduced their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $198.46.

Cintas Stock Up 2.2 %

Shares of CTAS opened at $208.14 on Thursday. The firm has a market cap of $83.99 billion, a P/E ratio of 50.18, a price-to-earnings-growth ratio of 3.94 and a beta of 1.38. 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 52 week low of $152.77 and a 52 week high of $228.12. The firm’s 50-day simple moving average is $196.78 and its 200 day simple moving average is $207.96.

Cintas (NASDAQ:CTAS) last posted its 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. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 earnings per share. On average, analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given 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 0.75%. Cintas’s payout ratio 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.