Ignite Planners LLC Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Ignite Planners LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,855 shares of the business services provider’s stock after purchasing an additional 295 shares during the period. Ignite Planners LLC’s holdings in Cintas were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hummer Financial Advisory Services Inc grew its position in shares of Cintas by 300.0% during the fourth quarter. Hummer Financial Advisory Services Inc now owns 5,600 shares of the business services provider’s stock valued at $1,023,000 after purchasing an additional 4,200 shares in the last quarter. Wallace Advisory Group LLC lifted its holdings in shares of Cintas by 283.6% in the 4th quarter. Wallace Advisory Group LLC now owns 1,657 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 1,225 shares during the last quarter. Signal Advisors Wealth LLC lifted its holdings in shares of Cintas by 19.3% in the 4th quarter. Signal Advisors Wealth LLC now owns 1,612 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 261 shares during the last quarter. Unique Wealth LLC lifted its holdings in shares of Cintas by 51.5% in the 4th quarter. Unique Wealth LLC now owns 2,310 shares of the business services provider’s stock valued at $422,000 after acquiring an additional 785 shares during the last quarter. Finally, Miracle Mile Advisors LLC bought a new position in shares of Cintas in the 4th quarter valued at about $319,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Robert W. Baird lowered their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas 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 given a buy rating to the company. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Performance

Cintas stock opened at $192.28 on Wednesday. The company has a 50 day moving average price of $206.61 and a 200-day moving average price of $204.87. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a fifty-two week low of $146.29 and a fifty-two week high of $228.12. The company has a market capitalization of $77.55 billion, a PE ratio of 48.56, a P/E/G ratio of 4.16 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm posted $3.61 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. Cintas’s dividend payout ratio is presently 39.39%.

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.