Everence Capital Management Inc. Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Everence Capital Management Inc. raised its holdings in Cintas Co. (NASDAQ:CTAS) by 96.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,770 shares of the business services provider’s stock after purchasing an additional 870 shares during the quarter. Everence Capital Management Inc.’s holdings in Cintas were worth $1,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CTAS. Simplicity Solutions LLC raised its position in shares of Cintas by 117.7% in the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after buying an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Cintas in the fourth quarter valued at approximately $8,015,000. Comerica Bank acquired a new position in shares of Cintas in the third quarter valued at approximately $10,866,000. Nordea Investment Management AB raised its position in shares of Cintas by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after buying an additional 85,662 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Cintas by 8.6% in the third quarter. Zions Bancorporation N.A. now owns 3,461 shares of the business services provider’s stock valued at $1,665,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of analyst reports. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Bank of America boosted their price objective on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Royal Bank of Canada upped their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, UBS Group upped their price target on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Price Performance

Cintas stock opened at $666.56 on Wednesday. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84. The firm has a fifty day moving average of $640.34 and a 200-day moving average of $584.89. The firm has a market capitalization of $67.57 billion, a P/E ratio of 46.03, a PEG ratio of 3.89 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business earned $3.14 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that Cintas Co. will post 14.96 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Company Profile

Cintas Corporation provides 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.