Wealthspire Advisors LLC Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Wealthspire Advisors LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,081 shares of the business services provider’s stock after acquiring an additional 125 shares during the period. Wealthspire Advisors LLC’s holdings in Cintas were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

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

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $205.82 on Wednesday. The firm’s 50 day simple moving average is $196.31 and its two-hundred day simple moving average is $208.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market capitalization of $83.06 billion, a P/E ratio of 49.63, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12.

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

Cintas Announces Dividend

The firm 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Truist Financial decreased their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Citigroup began coverage on Cintas in a research report on Monday. They set a “sell” rating and a $161.00 price objective for the company. Finally, Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and a consensus target price of $199.79.

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.