OFI Invest Asset Management Acquires New Holdings in Cintas Co. (NASDAQ:CTAS)

OFI Invest Asset Management acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 207 shares of the business services provider’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its holdings in 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 buying an additional 1,450 shares during the period. KMG Fiduciary Partners LLC increased its stake in Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP increased its stake in Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares during the period. JPMorgan Chase & Co. increased its stake in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC increased its stake in Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $200.61 on Tuesday. The stock has a 50 day moving average price of $199.24 and a 200 day moving average price of $209.36. 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 has a market capitalization of $80.95 billion, a price-to-earnings ratio of 48.37, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52-week low of $154.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.61 earnings per share. Research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.59%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Morgan Stanley boosted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group cut their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average 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.