Weik Capital Management Sells 220 Shares of Cintas Co. (NASDAQ:CTAS)

Weik Capital Management decreased its position in Cintas Co. (NASDAQ:CTAS) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,600 shares of the business services provider’s stock after selling 220 shares during the quarter. Cintas makes up 1.8% of Weik Capital Management’s portfolio, making the stock its 14th biggest position. Weik Capital Management’s holdings in Cintas were worth $4,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Cintas during the fourth quarter worth about $877,216,000. Blair William & Co. IL boosted its position in shares of Cintas by 1.4% in the 4th quarter. Blair William & Co. IL now owns 1,012,398 shares of the business services provider’s stock worth $184,965,000 after purchasing an additional 13,541 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $637,000. NEOS Investment Management LLC grew its stake in shares of Cintas by 32.8% in the 4th quarter. NEOS Investment Management LLC now owns 47,902 shares of the business services provider’s stock worth $8,752,000 after buying an additional 11,828 shares during the last quarter. Finally, Moment Partners LLC bought a new position in Cintas during the 4th quarter valued at approximately $345,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CTAS shares. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday. The Goldman Sachs Group increased their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday. 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 report on Thursday. UBS Group increased their price target on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $207.57.

Cintas Price Performance

Shares of Cintas stock opened at $206.25 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. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The stock’s 50-day simple moving average is $200.91 and its 200-day simple moving average is $208.87. The company has a market capitalization of $83.23 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 3.98 and a beta of 1.41.

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 the consensus estimate of $1.05 by $0.08. The business 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 firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $3.84 EPS. As a group, analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is currently 36.11%.

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.