Principal Securities Inc. Buys 4,107 Shares of Cintas Co. (NASDAQ:CTAS)

Principal Securities Inc. lifted its stake in Cintas Co. (NASDAQ:CTAS) by 71.7% during the fourth quarter, Holdings Channel reports. The fund owned 9,836 shares of the business services provider’s stock after acquiring an additional 4,107 shares during the quarter. Principal Securities Inc.’s holdings in Cintas were worth $1,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Financial Management Professionals Inc. raised its position in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Hollencrest Capital Management lifted its position in Cintas by 433.3% during 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 during the last quarter. Sound Income Strategies LLC bought a new stake in Cintas during the fourth quarter valued at about $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 valued at $28,000 after acquiring an additional 114 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at about $31,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Two research 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $198.46.

Cintas Price Performance

Cintas stock opened at $203.74 on Wednesday. The business has a 50 day simple moving average of $196.96 and a 200 day simple moving average of $207.85. Cintas Co. has a one year low of $152.77 and a one year high of $228.12. The company has a market capitalization of $82.22 billion, a PE ratio of 49.12, 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 issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.61 EPS. On average, sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

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.