DAVENPORT & Co LLC Raises Stake in Cintas Co. (NASDAQ:CTAS)

DAVENPORT & Co LLC grew its position in Cintas Co. (NASDAQ:CTAS) by 43.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 27,074 shares of the business services provider’s stock after acquiring an additional 8,215 shares during the period. DAVENPORT & Co LLC’s holdings in Cintas were worth $4,946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTAS. State Street Corp increased its stake in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. FMR LLC grew its position 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 worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised its stake in Cintas by 309.7% during the 3rd 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 purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. lifted its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cintas by 308.2% in the 3rd 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 worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

CTAS stock opened at $202.21 on Tuesday. Cintas Co. has a twelve month low of $150.70 and a twelve month high of $228.12. The firm has a market cap of $81.60 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 3.87 and a beta of 1.38. The business’s fifty day simple moving average is $201.15 and its two-hundred day simple moving average is $206.83. 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 (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, beating the consensus estimate of $1.01 by $0.08. The company 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% on a year-over-year basis. During the same period in the previous year, the company earned $3.61 EPS. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company 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 $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is 37.61%.

Analyst Ratings Changes

Several research firms have recently commented on CTAS. Morgan Stanley boosted their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group cut their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.