Cintas Co. (NASDAQ:CTAS) Stake Lifted by CreativeOne Wealth LLC

CreativeOne Wealth LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 40.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,614 shares of the business services provider’s stock after buying an additional 6,239 shares during the quarter. CreativeOne Wealth LLC’s holdings in Cintas were worth $3,949,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cintas in the 4th quarter worth $877,216,000. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after acquiring an additional 2,379,932 shares during the period. JPMorgan Chase & Co. raised its position in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in Cintas in the 4th quarter valued at about $196,057,000. Finally, Barclays PLC boosted its position in shares of Cintas by 340.1% during the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock valued at $224,312,000 after purchasing an additional 841,952 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on CTAS shares. UBS Group boosted their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Robert W. Baird increased their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price objective on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Finally, Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus target price of $213.62.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $209.62 on Tuesday. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 50.54, a P/E/G ratio of 3.98 and a beta of 1.20. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $201.25 and a 200 day simple moving average of $204.28.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $3.84 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio is 36.11%.

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.