Abbrea Capital LLC Purchases New Shares in Cintas Co. (NASDAQ:CTAS)

Abbrea Capital LLC purchased a new stake in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 371 shares of the business services provider’s stock, valued at approximately $224,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC grew its stake in Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 26 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 19 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Cintas in the 4th quarter valued at $46,000. Oakworth Capital Inc. purchased a new position in Cintas in the 4th quarter valued at $48,000. Finally, Raleigh Capital Management Inc. lifted its holdings in Cintas by 66.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.2 %

CTAS stock traded up $1.12 during trading on Thursday, hitting $665.25. 289,735 shares of the company’s stock were exchanged, compared to its average volume of 351,245. The business has a 50-day moving average price of $646.30 and a two-hundred day moving average price of $591.73. The stock has a market capitalization of $67.44 billion, a price-to-earnings ratio of 45.99, a PEG ratio of 3.90 and a beta of 1.27. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.14 earnings per share. As a group, equities research analysts expect that Cintas Co. will post 14.95 EPS for the current year.

Cintas Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Truist Financial lifted their price target on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Royal Bank of Canada lifted their price target on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Bank of America lifted their price target on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Six investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $661.21.

Cintas 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.