Ibex Wealth Advisors Takes $249,000 Position in Cintas Co. (NASDAQ:CTAS)

Ibex Wealth Advisors purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,365 shares of the business services provider's stock, valued at approximately $249,000.

Other institutional investors also recently bought and sold shares of the company. Algert Global LLC acquired a new position in Cintas during the 2nd quarter worth approximately $328,000. NewEdge Advisors LLC lifted its position in shares of Cintas by 21.0% during the second quarter. NewEdge Advisors LLC now owns 3,394 shares of the business services provider's stock worth $2,377,000 after purchasing an additional 589 shares in the last quarter. Quarry LP boosted 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. B. Riley Wealth Advisors Inc. grew its holdings in Cintas by 18.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 547 shares of the business services provider's stock valued at $383,000 after purchasing an additional 85 shares in the last quarter. Finally, Advisory Alpha LLC purchased a new stake in Cintas during the 2nd quarter worth $248,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

CTAS traded up $2.83 on Thursday, hitting $201.39. 272,055 shares of the company's stock were exchanged, compared to its average volume of 1,806,928. 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 stock has a fifty day moving average of $201.96 and a two-hundred day moving average of $206.34. Cintas Co. has a twelve month low of $150.48 and a twelve month high of $228.12. The firm has a market cap of $81.27 billion, a PE ratio of 48.50, a P/E/G ratio of 3.84 and a beta of 1.37.

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas's dividend payout ratio (DPR) is presently 37.61%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Robert W. Baird reduced their price target on Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, December 20th. UBS Group dropped their price objective on Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Two investment 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $198.46.

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.