Haven Private LLC Purchases New Holdings in Cintas Co. (NASDAQ:CTAS)

Haven Private LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,396 shares of the business services provider’s stock, valued at approximately $986,000.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC boosted its holdings in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 2.3 %

Cintas stock opened at $200.60 on Friday. The stock’s fifty day simple moving average is $198.51 and its 200-day simple moving average is $209.06. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $154.15 and a twelve month high of $228.12. The firm has a market capitalization of $80.95 billion, a P/E ratio of 48.37, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the firm posted $3.61 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.59%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTAS. Morgan Stanley raised their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group decreased their price target on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $199.79.

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.