DAVENPORT & Co LLC Acquires 8,215 Shares of Cintas Co. (NASDAQ:CTAS)

DAVENPORT & Co LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 43.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,074 shares of the business services provider’s stock after acquiring an additional 8,215 shares during the quarter. DAVENPORT & Co LLC’s holdings in Cintas were worth $4,946,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTAS. Financial Management Professionals Inc. increased its holdings in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management lifted its position in Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the last quarter. Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter valued at approximately $27,000. Addison Advisors LLC boosted its stake in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the period. Finally, Grove Bank & Trust grew its holdings in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.8 %

NASDAQ CTAS opened at $202.21 on Tuesday. The stock’s fifty day moving average price is $201.15 and its 200-day moving average price is $206.83. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $81.60 billion, a P/E ratio of 48.75, a P/E/G ratio of 3.87 and a beta of 1.38. Cintas Co. has a 12 month low of $150.70 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share 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 business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business earned $3.61 EPS. Cintas’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

Analysts Set New Price Targets

A number of research firms recently commented on CTAS. 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 report on Friday, December 20th. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price 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.