Stonegate Investment Group LLC Increases Stake in Cintas Co. (NASDAQ:CTAS)

Stonegate Investment Group LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 11.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,201 shares of the business services provider’s stock after purchasing an additional 125 shares during the period. Stonegate Investment Group LLC’s holdings in Cintas were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. State Street Corp lifted its holdings in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 6,571,128 shares during the period. Geode Capital Management LLC raised its holdings 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 acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. raised its holdings 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 acquiring an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 1,904,926 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $198.56 on Thursday. The company has a market cap of $80.13 billion, a P/E ratio of 47.87, a P/E/G ratio of 3.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a 50-day moving average of $202.36 and a two-hundred day moving average of $206.39. Cintas Co. has a 1-year low of $149.70 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 EPS. As a group, analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is presently 37.61%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several analyst reports. Morgan Stanley lifted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Finally, Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $198.46.

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.