Oakworth Capital Inc. Invests $48,000 in Cintas Co. (NASDAQ:CTAS)

Oakworth Capital Inc. purchased a new position in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 80 shares of the business services provider’s stock, valued at approximately $48,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Quarry LP boosted its stake in shares of Cintas by 221.1% in the 1st quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after buying an additional 42 shares during the last quarter. Janiczek Wealth Management LLC raised its holdings in Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after purchasing an additional 26 shares during the period. Catalyst Capital Advisors LLC raised its holdings in Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. Sunbelt Securities Inc. bought a new position in Cintas in the 1st quarter worth $36,000. Finally, Clearstead Advisors LLC bought a new position in Cintas in the 3rd quarter worth $39,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTAS shares. Barclays raised their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada raised their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Bank of America raised their price target on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Oppenheimer reissued a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Cintas has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Trading Up 0.3 %

CTAS opened at $668.51 on Thursday. The firm has a market cap of $67.77 billion, a P/E ratio of 46.17, a P/E/G ratio of 3.90 and a beta of 1.27. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $641.27 and a 200 day moving average of $585.47.

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

Cintas Announces Dividend

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

About Cintas

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.