Portfolio Design Labs LLC Purchases Shares of 1,893 Cintas Co. (NASDAQ:CTAS)

Portfolio Design Labs LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,893 shares of the business services provider’s stock, valued at approximately $346,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC increased its holdings in shares of Cintas by 297.3% in 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Cintas by 264.7% in the third 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cintas by 308.2% in 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 worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Down 0.4 %

Shares of NASDAQ:CTAS opened at $204.61 on Thursday. Cintas Co. has a 1 year low of $150.70 and a 1 year high of $228.12. The business has a 50 day simple moving average of $198.16 and a two-hundred day simple moving average of $207.47. The firm has a market capitalization of $82.57 billion, a PE ratio of 49.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. 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 earnings results 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business earned $3.61 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s payout ratio is 37.61%.

Analysts Set New Price Targets

CTAS has been the topic of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company reduced their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley boosted their price objective on Cintas from $185.00 to $202.00 and gave the stock 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 on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned 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 an average target price 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.