Proficio Capital Partners LLC Buys New Shares in Cintas Co. (NASDAQ:CTAS)

Proficio Capital Partners LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,615 shares of the business services provider's stock, valued at approximately $295,000.

A number of other institutional investors also recently modified their holdings of CTAS. Great Valley Advisor Group Inc. bought a new position in shares of Cintas in the third quarter valued at about $223,000. Kingsview Wealth Management LLC raised its stake in shares of Cintas by 389.4% in the third quarter. Kingsview Wealth Management LLC now owns 4,874 shares of the business services provider's stock worth $1,003,000 after acquiring an additional 3,878 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Cintas by 178.3% during the third quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider's stock worth $507,000 after purchasing an additional 1,576 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Cintas by 311.3% during the third quarter. Loomis Sayles & Co. L P now owns 436 shares of the business services provider's stock worth $90,000 after purchasing an additional 330 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Cintas during the third quarter valued at approximately $59,000. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research report on Thursday. Finally, Truist Financial raised their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $210.58.

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Cintas Trading Down 1.5 %

CTAS traded down $3.03 during mid-day trading on Friday, hitting $203.22. The stock had a trading volume of 1,684,835 shares, compared to its average volume of 1,631,493. The stock's fifty day simple moving average is $201.01 and its 200-day simple moving average is $204.62. The firm has a market capitalization of $82.01 billion, a price-to-earnings ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. As a group, research 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 was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, February 14th. Cintas's payout ratio is 36.11%.

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.