Cintas Co. (NASDAQ:CTAS) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its position in Cintas Co. (NASDAQ:CTAS) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,242 shares of the business services provider’s stock after acquiring an additional 336 shares during the period. Lake Street Advisors Group LLC’s holdings in Cintas were worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its holdings in shares of Cintas by 4.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 89,692 shares of the business services provider’s stock valued at $16,387,000 after purchasing an additional 3,927 shares during the period. Amalgamated Bank boosted its position in Cintas by 0.9% in the fourth quarter. Amalgamated Bank now owns 79,756 shares of the business services provider’s stock valued at $14,571,000 after buying an additional 708 shares during the last quarter. IFP Advisors Inc boosted its position in Cintas by 66.6% in the fourth quarter. IFP Advisors Inc now owns 4,366 shares of the business services provider’s stock valued at $798,000 after buying an additional 1,746 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Cintas in the 4th quarter worth approximately $6,331,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Cintas during the 4th quarter worth approximately $268,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTAS has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, The Goldman Sachs Group dropped 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. Two equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Stock Performance

Shares of CTAS stock opened at $203.43 on Friday. The company has a market capitalization of $82.09 billion, a P/E ratio of 49.05, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12. The business’s 50 day moving average is $196.72 and its two-hundred day moving average is $208.56. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

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. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.61 EPS. Analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

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.