Proficio Capital Partners LLC Makes New $53.90 Million Investment in Cintas Co. (NASDAQ:CTAS)

Proficio Capital Partners LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 295,029 shares of the business services provider’s stock, valued at approximately $53,902,000.

Other hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its stake in Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC boosted its stake in Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP boosted its stake in Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a 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 on the stock in a report on Friday, December 20th. Truist Financial lowered their price target 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. Finally, Citigroup assumed coverage on shares of Cintas in a report on Monday. They set a “sell” rating and a $161.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Stock Down 0.4 %

CTAS stock opened at $203.43 on Friday. 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 52-week low of $154.15 and a 52-week high of $228.12. The company has a 50-day moving average of $196.72 and a two-hundred day moving average of $208.56. The stock has a market capitalization of $82.09 billion, a price-to-earnings ratio of 49.05, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38.

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

Cintas Dividend Announcement

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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

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.