Inverness Counsel LLC NY increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,084 shares of the business services provider’s stock after purchasing an additional 44 shares during the period. Inverness Counsel LLC NY’s holdings in Cintas were worth $10,728,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc boosted its stake in shares of Cintas by 67.5% during the second quarter. Key Financial Inc now owns 67 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 27 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of Cintas during the first quarter valued at approximately $27,000. Clean Yield Group purchased a new stake in Cintas during the second quarter valued at approximately $31,000. Jacobi Capital Management LLC lifted its position in Cintas by 136.6% during the first quarter. Jacobi Capital Management LLC now owns 97 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 56 shares during the last quarter. Finally, Concord Wealth Partners lifted its position in Cintas by 4,166.7% during the first quarter. Concord Wealth Partners now owns 128 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 63.62% of the company’s stock.
A number of research firms recently commented on CTAS. Morgan Stanley increased their target price on shares of Cintas from $333.00 to $353.00 and gave the company an “equal weight” rating in a research report on Friday, July 16th. The Goldman Sachs Group increased their target price on shares of Cintas from $387.00 to $411.00 and gave the company a “buy” rating in a research report on Tuesday, June 22nd. Argus raised their price target on shares of Cintas from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, July 20th. Royal Bank of Canada started coverage on shares of Cintas in a report on Thursday, September 2nd. They issued an “outperform” rating and a $450.00 price target for the company. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cintas in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $400.44.
Shares of Cintas stock traded up $1.20 during trading on Wednesday, hitting $397.31. 994 shares of the company’s stock were exchanged, compared to its average volume of 424,221. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.22 and a current ratio of 1.47. The business has a 50-day simple moving average of $391.26 and a 200-day simple moving average of $366.20. Cintas Co. has a 52-week low of $307.65 and a 52-week high of $409.80. The stock has a market capitalization of $40.91 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 3.95 and a beta of 1.50.
Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 14th. The business services provider reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.17. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Cintas had a net margin of 15.61% and a return on equity of 30.22%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 earnings per share. On average, equities analysts anticipate that Cintas Co. will post 10.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Friday, August 13th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 12th. This is a positive change from Cintas’s previous quarterly dividend of $0.75. Cintas’s dividend payout ratio (DPR) is currently 37.11%.
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.
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