Axxcess Wealth Management LLC Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Axxcess Wealth Management LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 12,211 shares of the business services provider’s stock after purchasing an additional 79 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Cintas were worth $2,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. increased its stake in Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in shares of Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after acquiring an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CTAS shares. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. 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. Robert W. Baird dropped their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Citigroup began coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Finally, 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 note 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 issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $199.79.

Cintas Stock Performance

Cintas stock opened at $196.37 on Thursday. 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 one year low of $156.83 and a one year high of $228.12. The stock’s 50 day moving average price is $200.39 and its 200 day moving average price is $209.02. The firm has a market capitalization of $79.24 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last issued 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $3.61 earnings per share. As a group, sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

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.