Cintas Co. (NASDAQ:CTAS) Stake Boosted by Argent Capital Management LLC

Argent Capital Management LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,477 shares of the business services provider’s stock after buying an additional 3,004 shares during the quarter. Argent Capital Management LLC’s holdings in Cintas were worth $6,116,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Moors & Cabot Inc. raised its position in Cintas by 6.9% during the second quarter. Moors & Cabot Inc. now owns 757 shares of the business services provider’s stock valued at $530,000 after buying an additional 49 shares during the period. Edgestream Partners L.P. boosted its position in Cintas by 74.1% during the second quarter. Edgestream Partners L.P. now owns 2,463 shares of the business services provider’s stock valued at $1,725,000 after purchasing an additional 1,048 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares in the last quarter. E Fund Management Co. Ltd. increased its position in Cintas by 1.9% in the 2nd quarter. E Fund Management Co. Ltd. now owns 997 shares of the business services provider’s stock worth $698,000 after purchasing an additional 19 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co raised its stake in shares of Cintas by 3.3% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 2,318 shares of the business services provider’s stock worth $1,623,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $195.70 on Thursday. The company has a 50-day simple moving average of $206.61 and a two-hundred day simple moving average of $204.87. The stock has a market capitalization of $78.97 billion, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 3.65 and a beta of 1.37. 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 twelve month low of $146.29 and a twelve month high of $228.12.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is presently 37.61%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTAS. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Wells Fargo & Company lowered their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Jefferies Financial Group reduced their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $198.46.

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.