Fisher Asset Management LLC Grows Position in Cintas Co. (NASDAQ:CTAS)

Fisher Asset Management LLC boosted its stake in Cintas Co. (NASDAQ:CTAS) by 5.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,588 shares of the business services provider’s stock after buying an additional 128 shares during the quarter. Fisher Asset Management LLC’s holdings in Cintas were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. Hollencrest Capital Management raised its position in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Cintas in the 4th quarter valued at $27,000. Addison Advisors LLC raised its position in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after buying an additional 114 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in Cintas in the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the 4th quarter valued at $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 2.3 %

CTAS stock opened at $200.60 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $80.95 billion, a PE ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a twelve month low of $154.15 and a twelve month high of $228.12. The stock has a 50-day simple moving average of $198.51 and a two-hundred day simple moving average of $209.06.

Cintas (NASDAQ:CTAS) last posted its earnings results 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. The business 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 EPS. On average, equities analysts predict 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. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is presently 37.59%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Wells Fargo & Company reduced their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company 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. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Company 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.