Cintas Co. (NASDAQ:CTAS) Shares Purchased by Destination Wealth Management

Destination Wealth Management boosted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 432.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,165 shares of the business services provider's stock after buying an additional 11,505 shares during the quarter. Destination Wealth Management's holdings in Cintas were worth $2,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Wealth Advisors LLC raised its position in shares of Cintas by 3.1% in the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider's stock worth $318,000 after acquiring an additional 52 shares in the last quarter. MGB Wealth Management LLC raised its position in shares of Cintas by 0.7% in the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider's stock worth $1,328,000 after acquiring an additional 52 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in shares of Cintas by 2.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider's stock worth $512,000 after acquiring an additional 55 shares in the last quarter. S.A. Mason LLC raised its position in shares of Cintas by 3.3% in the 4th quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider's stock worth $311,000 after acquiring an additional 55 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its position in shares of Cintas by 5.5% in the 4th quarter. Simon Quick Advisors LLC now owns 1,213 shares of the business services provider's stock worth $222,000 after acquiring an additional 63 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

A number of brokerages recently commented on CTAS. The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Truist Financial dropped their target price on 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 objective on Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, December 20th. Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Finally, UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two 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's stock. Based on data from MarketBeat, Cintas presently has an average rating of "Hold" and a consensus price target of $199.79.

Cintas Stock Performance

Shares of Cintas stock traded up $2.46 during trading on Friday, hitting $203.06. 1,804,813 shares of the company's stock were exchanged, compared to its average volume of 1,724,405. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The business has a 50-day simple moving average of $198.90 and a 200-day simple moving average of $209.23. Cintas Co. has a 52-week low of $154.15 and a 52-week high of $228.12. The stock has a market capitalization of $81.94 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating 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 quarter last year, the business earned $3.61 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 yield of 0.77%. Cintas's payout ratio is presently 37.59%.

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.