Parnassus Investments LLC Has $11.58 Million Position in Cintas Co. (NASDAQ:CTAS)

Parnassus Investments LLC cut its position in Cintas Co. (NASDAQ:CTAS) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 63,373 shares of the business services provider’s stock after selling 834 shares during the quarter. Parnassus Investments LLC’s holdings in Cintas were worth $11,578,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CTAS. Sound Income Strategies LLC bought a new position in shares of Cintas during the 4th quarter worth approximately $27,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas during the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC lifted its position in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management bought a new position in shares of Cintas during the 4th quarter worth approximately $37,000. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

CTAS opened at $192.84 on Friday. The company has a fifty day moving average price of $200.02 and a 200-day moving average price of $209.07. The firm has a market capitalization of $77.82 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. 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 one year low of $155.85 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results 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. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 EPS. Equities research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTAS. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Cintas has an average 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.