Charles Schwab Investment Management Inc. Buys 47,829 Shares of Cintas Co. (NASDAQ:CTAS)

Charles Schwab Investment Management Inc. grew its stake in Cintas Co. (NASDAQ:CTAS) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,942,751 shares of the business services provider’s stock after buying an additional 47,829 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.48% of Cintas worth $354,941,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTAS. Hollencrest Capital Management increased its holdings in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Sound Income Strategies LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $27,000. Addison Advisors LLC increased its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of Cintas during the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Cintas during the 4th quarter valued at $34,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note 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 report on Friday, December 20th. Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Up 0.4 %

Shares of NASDAQ:CTAS opened at $205.29 on Thursday. The company has a market cap of $82.84 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a 12 month low of $154.15 and a 12 month high of $228.12. 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 has a 50-day moving average price of $198.20 and a 200 day moving average price of $209.12.

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, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $3.61 EPS. As a group, equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.59%.

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.