Stonegate Investment Group LLC Boosts Position in Cintas Co. (NASDAQ:CTAS)

Stonegate Investment Group LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,201 shares of the business services provider’s stock after purchasing an additional 125 shares during the quarter. Stonegate Investment Group LLC’s holdings in Cintas were worth $219,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Algert Global LLC purchased a new stake in Cintas during the second quarter worth approximately $328,000. NewEdge Advisors LLC lifted its stake in Cintas by 21.0% during the second quarter. NewEdge Advisors LLC now owns 3,394 shares of the business services provider’s stock worth $2,377,000 after purchasing an additional 589 shares during the last quarter. Quarry LP lifted its stake in Cintas by 500.0% during the second quarter. Quarry LP now owns 108 shares of the business services provider’s stock worth $76,000 after purchasing an additional 90 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Cintas by 18.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 547 shares of the business services provider’s stock worth $383,000 after purchasing an additional 85 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new stake in Cintas during the second quarter worth approximately $248,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.9 %

Shares of CTAS stock opened at $198.56 on Thursday. The business’s fifty day moving average price is $202.36 and its 200 day moving average price is $206.39. Cintas Co. has a 1-year low of $149.70 and a 1-year high of $228.12. The firm has a market capitalization of $80.13 billion, a PE ratio of 47.87, a P/E/G ratio of 3.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company posted $3.61 earnings per share. Cintas’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.61%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CTAS. Truist Financial reduced their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley boosted their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $198.46.

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.