SlateStone Wealth LLC Invests $202,000 in Cintas Co. (NASDAQ:CTAS)

SlateStone Wealth LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 335 shares of the business services provider’s stock, valued at approximately $202,000.

Several other hedge funds have also recently modified their holdings of the business. Janiczek Wealth Management LLC raised its stake in shares of Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of Cintas during the 4th quarter worth approximately $46,000. Oakworth Capital Inc. bought a new position in shares of Cintas during the 4th quarter worth approximately $48,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Cintas by 66.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTAS. Barclays boosted their price objective on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their price target on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. UBS Group raised their price target on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Bank of America raised their price target on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Stock Performance

CTAS stock traded down $2.28 during midday trading on Wednesday, hitting $664.05. 73,193 shares of the stock traded hands, compared to its average volume of 343,269. The firm has a market cap of $67.31 billion, a P/E ratio of 46.02, a PEG ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The stock’s fifty day simple moving average is $645.27 and its 200-day simple moving average is $591.22. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating 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 business earned $3.14 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts expect that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The firm 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 dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. Cintas’s payout ratio is presently 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.