Cintas Co. (NASDAQ:CTAS) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC grew its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 199.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,718 shares of the business services provider's stock after acquiring an additional 6,475 shares during the period. Merit Financial Group LLC's holdings in Cintas were worth $1,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CTAS. Quarry LP lifted its stake in shares of Cintas by 500.0% in the second quarter. Quarry LP now owns 108 shares of the business services provider's stock valued at $76,000 after purchasing an additional 90 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management boosted its stake in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock worth $28,000 after acquiring an additional 114 shares during the period. Finally, Grove Bank & Trust raised its holdings in Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider's stock worth $30,000 after purchasing an additional 134 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a report on Friday, December 20th. Truist Financial lowered their price target 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. Morgan Stanley lifted their price objective on Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 12th. Finally, Barclays increased their target price on Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Cintas has an average rating of "Hold" and a consensus target price of $198.46.

Cintas Trading Up 1.5 %

Shares of NASDAQ CTAS traded up $2.93 during midday trading on Tuesday, hitting $201.24. The stock had a trading volume of 964,174 shares, compared to its average volume of 2,020,231. The company has a fifty day moving average price of $204.69 and a 200 day moving average price of $205.50. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 3.83 and a beta of 1.37. Cintas Co. has a 1-year low of $148.75 and a 1-year 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.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas's dividend payout ratio is presently 37.61%.

About Cintas

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.