Magnetar Financial LLC Buys New Shares in Cintas Co. (NASDAQ:CTAS)

Magnetar Financial LLC bought a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,001 shares of the business services provider’s stock, valued at approximately $1,462,000.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC increased its position in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP increased its position in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC raised its holdings in Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective 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. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Truist Financial decreased their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, UBS Group decreased their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Trading Down 1.0 %

Shares of Cintas stock opened at $194.46 on Friday. Cintas Co. has a 52-week low of $158.10 and a 52-week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company’s 50-day simple moving average is $200.43 and its 200-day simple moving average is $208.92. The firm has a market cap of $78.47 billion, a price-to-earnings ratio of 46.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. Cintas’s dividend payout ratio is presently 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.