Johnson Investment Counsel Inc. Has $26 Million Position in Cintas Co. (NASDAQ:CTAS)

Johnson Investment Counsel Inc. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,300 shares of the business services provider’s stock after purchasing an additional 7,989 shares during the period. Johnson Investment Counsel Inc.’s holdings in Cintas were worth $25,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc increased its stake in shares of Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock valued at $287,000 after buying an additional 1,093 shares during the last quarter. Summit Global Investments lifted its stake in shares of Cintas by 117.4% in the 3rd quarter. Summit Global Investments now owns 1,085 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 586 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Cintas in the 3rd quarter valued at about $76,000. Finally, Hollencrest Capital Management lifted its stake in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

NASDAQ:CTAS opened at $203.06 on Monday. Cintas Co. has a 52 week low of $154.15 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 stock’s fifty day moving average is $198.90 and its two-hundred day moving average is $209.33. The company has a market capitalization of $81.94 billion, a P/E ratio of 48.96, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.61 EPS. Equities analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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

Analyst Ratings Changes

CTAS has been the topic of a number of research reports. Royal Bank of Canada reaffirmed 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 upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Finally, UBS Group dropped their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two equities 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.