C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $879,000 in Cintas Co. (NASDAQ:CTAS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,813 shares of the business services provider's stock, valued at approximately $879,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional lifted its position in shares of Cintas by 308.1% during the 3rd quarter. CX Institutional now owns 1,975 shares of the business services provider's stock worth $407,000 after purchasing an additional 1,491 shares during the last quarter. Wesbanco Bank Inc. boosted its position in shares of Cintas by 283.4% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,338 shares of the business services provider's stock worth $275,000 after acquiring an additional 989 shares in the last quarter. Creative Planning raised its position in shares of Cintas by 356.6% during the 3rd quarter. Creative Planning now owns 88,354 shares of the business services provider's stock worth $18,190,000 after acquiring an additional 69,003 shares in the last quarter. McKinley Carter Wealth Services Inc. lifted its stake in Cintas by 299.5% during the third quarter. McKinley Carter Wealth Services Inc. now owns 4,602 shares of the business services provider's stock worth $948,000 after purchasing an additional 3,450 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Cintas by 257.3% in the third quarter. Vontobel Holding Ltd. now owns 120,739 shares of the business services provider's stock valued at $24,858,000 after purchasing an additional 86,950 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of Cintas stock traded down $1.77 during trading on Monday, reaching $204.22. The company's stock had a trading volume of 1,062,557 shares, compared to its average volume of 1,480,585. The business has a 50 day moving average price of $197.04 and a 200-day moving average price of $207.76. Cintas Co. has a 12-month low of $152.77 and a 12-month high of $228.12. The company has a market capitalization of $82.41 billion, a P/E ratio of 49.24, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the firm earned $3.61 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas's payout ratio is 37.61%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTAS. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley lifted their price target on Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, UBS Group cut their target price on shares of Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a report on Friday, December 20th. 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 company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $198.46.

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.