Raleigh Capital Management Inc. Has $199,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Raleigh Capital Management Inc. lifted its stake in Cintas Co. (NASDAQ:CTAS) by 61.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,091 shares of the business services provider’s stock after acquiring an additional 417 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Cintas were worth $199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC increased its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cintas by 309.7% during the third 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 position in Cintas by 264.7% during the third 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 stake in Cintas by 308.2% in 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 Performance

NASDAQ CTAS opened at $197.80 on Friday. The firm has a 50-day moving average price of $203.73 and a two-hundred day moving average price of $205.62. Cintas Co. has a 12-month low of $148.75 and a 12-month high of $228.12. The company has a market capitalization of $79.82 billion, a P/E ratio of 47.69, a P/E/G ratio of 3.89 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the company posted $3.61 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is currently 37.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. The Goldman Sachs Group lowered their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company decreased their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Finally, Truist Financial cut their price target on 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 issued a buy rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus price target of $198.46.

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.