Parnassus Investments LLC Grows Holdings in Cintas Co. (NASDAQ:CTAS)

Parnassus Investments LLC grew its holdings in Cintas Co. (NASDAQ:CTASFree Report) by 18.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,986 shares of the business services provider’s stock after acquiring an additional 6,628 shares during the quarter. Parnassus Investments LLC’s holdings in Cintas were worth $20,677,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Trust N.A. lifted its holdings in shares of Cintas by 10.6% during the first quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock worth $314,000 after purchasing an additional 71 shares during the period. Baird Financial Group Inc. raised its position in Cintas by 16.8% during the first quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after acquiring an additional 2,541 shares in the last quarter. Covestor Ltd raised its position in Cintas by 84.7% during the first quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 150 shares in the last quarter. Mackenzie Financial Corp raised its position in Cintas by 9.3% during the first quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock valued at $3,009,000 after acquiring an additional 604 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its position in Cintas by 19.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after acquiring an additional 4,037 shares in the last quarter. Institutional investors and hedge funds own 62.26% of the company’s stock.

Cintas Stock Performance

Cintas stock traded down $6.34 during mid-day trading on Monday, reaching $612.96. 30,074 shares of the company were exchanged, compared to its average volume of 299,060. Cintas Co. has a twelve month low of $425.00 and a twelve month high of $622.63. The firm’s 50-day simple moving average is $582.15 and its two-hundred day simple moving average is $533.53. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24. The firm has a market cap of $62.14 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 3.59 and a beta of 1.28.

Cintas (NASDAQ:CTASGet Free Report) last posted its quarterly earnings results on Thursday, December 21st. The business services provider reported $3.61 EPS for the quarter, beating the consensus estimate of $3.49 by $0.12. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $3.12 EPS. Equities analysts predict that Cintas Co. will post 14.57 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 15th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, February 14th. Cintas’s payout ratio is currently 39.19%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTAS shares. Deutsche Bank Aktiengesellschaft cut Cintas from a “buy” rating to a “hold” rating and lifted their price target for the company from $551.00 to $590.00 in a research report on Friday, December 8th. Stifel Nicolaus boosted their price target on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Royal Bank of Canada boosted their price target on Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. boosted their price target on Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $560.57.

Read Our Latest Stock Analysis on Cintas

Insider Activity at Cintas

In related news, CFO J. Michael Hansen sold 9,774 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $596.91, for a total value of $5,834,198.34. Following the completion of the transaction, the chief financial officer now directly owns 37,732 shares of the company’s stock, valued at approximately $22,522,608.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 14.90% of the stock is currently owned by company insiders.

Cintas Company Profile

(Free Report)

Cintas Corporation provides 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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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