Charles Schwab Investment Management Inc. Acquires 47,829 Shares of Cintas Co. (NASDAQ:CTAS)

Charles Schwab Investment Management Inc. increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,942,751 shares of the business services provider’s stock after acquiring an additional 47,829 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cintas were worth $354,941,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CTAS. Hollencrest Capital Management grew its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Cintas in the fourth quarter valued at approximately $27,000. Addison Advisors LLC grew its stake in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in Cintas in the fourth quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Cintas during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Robert W. Baird cut their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research 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 on the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Stock Up 0.4 %

Shares of CTAS stock opened at $205.29 on Thursday. The stock’s fifty day moving average price is $198.20 and its 200 day moving average price is $209.12. 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 $154.15 and a 1-year high of $228.12. The company has a market cap of $82.84 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Cintas Company 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.