World Investment Advisors Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

World Investment Advisors boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 8.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,488 shares of the business services provider’s stock after acquiring an additional 717 shares during the period. World Investment Advisors’ holdings in Cintas were worth $1,733,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in Cintas by 270.3% in the third quarter. HighTower Advisors LLC now owns 71,265 shares of the business services provider’s stock worth $14,662,000 after acquiring an additional 52,022 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Cintas by 297.6% in the 3rd quarter. Janus Henderson Group PLC now owns 70,307 shares of the business services provider’s stock valued at $14,474,000 after purchasing an additional 52,624 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Cintas by 283.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 5,346 shares of the business services provider’s stock worth $1,101,000 after purchasing an additional 3,952 shares during the period. Royal London Asset Management Ltd. increased its position in shares of Cintas by 310.5% during the 3rd quarter. Royal London Asset Management Ltd. now owns 141,032 shares of the business services provider’s stock valued at $29,036,000 after purchasing an additional 106,680 shares during the last quarter. Finally, Quarry LP raised its holdings in Cintas by 447.2% during the 3rd quarter. Quarry LP now owns 591 shares of the business services provider’s stock valued at $122,000 after buying an additional 483 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $190.33 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The business has a 50-day moving average price of $201.48 and a 200 day moving average price of $204.55. The company has a market capitalization of $76.81 billion, a P/E ratio of 45.89, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 EPS. As a group, equities research analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. The Goldman Sachs Group boosted their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $210.58.

Cintas 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.