Independent Advisor Alliance Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Independent Advisor Alliance grew its holdings in Cintas Co. (NASDAQ:CTAS) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 80,274 shares of the business services provider’s stock after acquiring an additional 3,337 shares during the period. Independent Advisor Alliance’s holdings in Cintas were worth $14,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of 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 purchasing an additional 10,910,285 shares during the period. FMR LLC boosted its stake in shares of Cintas by 297.3% during the 3rd 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 during the period. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% during the 3rd 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 period. Franklin Resources Inc. boosted its stake in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cintas by 308.2% during 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 worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 1.2 %

NASDAQ:CTAS opened at $203.06 on Monday. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The firm has a 50 day moving average of $198.90 and a 200 day moving average of $209.33. 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 has a market capitalization of $81.94 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $3.61 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 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. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio is currently 37.59%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTAS. Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of 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 lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Company 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.