Carnegie Capital Asset Management LLC Acquires 3,004 Shares of Cintas Co. (NASDAQ:CTAS)

Carnegie Capital Asset Management LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 18.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 18,871 shares of the business services provider’s stock after purchasing an additional 3,004 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Cintas were worth $11,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. increased its position in shares of Cintas by 10.6% during the 1st 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 in the last quarter. Baird Financial Group Inc. increased its position in shares of Cintas by 16.8% during the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock worth $7,505,000 after purchasing an additional 2,541 shares in the last quarter. Covestor Ltd increased its position in shares of Cintas by 84.7% during the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock worth $139,000 after purchasing an additional 150 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Cintas by 9.3% during the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after purchasing an additional 604 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Cintas by 19.8% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock worth $10,410,000 after purchasing an additional 4,037 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Truist Financial raised their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Finally, Barclays raised their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Trading Down 0.4 %

Cintas stock traded down $2.72 during midday trading on Friday, hitting $668.41. 324,300 shares of the stock were exchanged, compared to its average volume of 397,659. The company has a fifty day simple moving average of $638.38 and a two-hundred day simple moving average of $581.60. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The stock has a market capitalization of $67.76 billion, a PE ratio of 46.16, a P/E/G ratio of 3.91 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm earned $3.14 EPS. Cintas’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Cintas Company Profile

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.