Alphinity Investment Management Pty Ltd Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Alphinity Investment Management Pty Ltd increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 70.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,978 shares of the business services provider’s stock after acquiring an additional 8,650 shares during the quarter. Alphinity Investment Management Pty Ltd’s holdings in Cintas were worth $3,833,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management boosted its holdings in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 104 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Cintas during the fourth quarter worth approximately $27,000. Addison Advisors LLC boosted its holdings in Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in Cintas during the fourth quarter worth approximately $31,000. Finally, Quintet Private Bank Europe S.A. boosted its holdings in Cintas by 357.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 0.7 %

Cintas stock opened at $204.31 on Thursday. The company has a market capitalization of $82.45 billion, a P/E ratio of 49.26, a P/E/G ratio of 3.98 and a beta of 1.38. The firm’s fifty day simple moving average is $196.31 and its 200-day simple moving average is $208.59. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating 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 business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm earned $3.61 EPS. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup assumed coverage on shares of Cintas in a report on Monday. They set a “sell” rating and a $161.00 target price for the company. Truist Financial reduced their target price 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. Wells Fargo & Company reduced 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. Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $199.79.

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.