E. Ohman J or Asset Management AB Buys 1,700 Shares of Cintas Co. (NASDAQ:CTAS)

E. Ohman J or Asset Management AB boosted its stake in Cintas Co. (NASDAQ:CTAS) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 16,100 shares of the business services provider’s stock after acquiring an additional 1,700 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cintas were worth $2,941,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTAS. Financial Management Professionals Inc. boosted its holdings in shares of Cintas by 341.4% during the 3rd 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 in the last quarter. Hollencrest Capital Management boosted its stake in Cintas by 433.3% during the third 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. Addison Advisors LLC boosted its stake in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares in the last quarter. Grove Bank & Trust grew its holdings in 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 period. Finally, Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $200.61 on Wednesday. The business has a 50 day moving average of $200.71 and a 200-day moving average of $206.91. The firm has a market cap of $80.95 billion, a PE ratio of 48.37, 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. 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 announced its 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. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $3.61 EPS. As a group, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current 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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.61%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research reports. Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $198.46.

About Cintas

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.