Cintas Co. (NASDAQ:CTAS) Shares Purchased by Palmer Knight Co

Palmer Knight Co boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,957 shares of the business services provider’s stock after purchasing an additional 177 shares during the quarter. Cintas makes up about 3.8% of Palmer Knight Co’s investment portfolio, making the stock its 12th largest holding. Palmer Knight Co’s holdings in Cintas were worth $8,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC boosted its holdings in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $198.56 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $202.36 and its two-hundred day moving average price is $206.39. Cintas Co. has a 52 week low of $149.70 and a 52 week high of $228.12. The stock has a market cap of $80.13 billion, a PE ratio of 47.87, a price-to-earnings-growth ratio of 3.84 and a beta of 1.37.

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

Cintas Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.79%. Cintas’s payout ratio is presently 37.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTAS shares. The Goldman Sachs Group reduced 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. UBS Group reduced their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $198.46.

About Cintas

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.