CIBC Asset Management Inc Boosts Position in Cintas Co. (NASDAQ:CTAS)

CIBC Asset Management Inc grew its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,390 shares of the business services provider's stock after purchasing an additional 4,239 shares during the period. CIBC Asset Management Inc's holdings in Cintas were worth $22,361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. boosted its position in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock valued at $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management boosted its holdings in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock valued at $26,000 after acquiring an additional 104 shares during the period. Addison Advisors LLC grew its position in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock valued at $28,000 after acquiring an additional 114 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Cintas in the fourth quarter worth $27,000. Finally, Capital Advisors Ltd. LLC lifted its position in shares of Cintas by 321.1% during the third quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider's stock worth $33,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Truist Financial reduced their target price on shares of Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company lowered their price target on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird lowered 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $198.46.

Cintas Stock Down 0.7 %

Shares of CTAS stock traded down $1.50 during trading hours on Friday, reaching $204.43. 2,302,558 shares of the company's stock were exchanged, compared to its average volume of 1,724,269. Cintas Co. has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The stock's 50 day moving average is $196.53 and its 200-day moving average is $208.08. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $82.50 billion, a price-to-earnings ratio of 49.29, a P/E/G ratio of 4.02 and a beta of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last announced 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $3.61 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

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

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.