Mainsail Asset Management LLC Buys 15,118 Shares of Cintas Co. (NASDAQ:CTAS)

Mainsail Asset Management LLC increased its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,809 shares of the business services provider's stock after purchasing an additional 15,118 shares during the quarter. Cintas makes up 13.8% of Mainsail Asset Management LLC's holdings, making the stock its 3rd largest position. Mainsail Asset Management LLC's holdings in Cintas were worth $19,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its position in 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 buying an additional 99 shares in the last quarter. Hollencrest Capital Management increased its position 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 buying an additional 104 shares in the last quarter. Addison Advisors LLC increased its position in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock valued at $28,000 after buying an additional 114 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Cintas during the 4th quarter valued at about $27,000. Finally, Capital Advisors Ltd. LLC increased its position in Cintas by 321.1% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider's stock valued at $33,000 after buying an additional 122 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CTAS shares. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their target price on Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group reduced their target price on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Finally, Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, December 20th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $198.46.

Cintas Stock Performance

NASDAQ CTAS traded down $2.21 on Thursday, reaching $205.93. 1,340,283 shares of the company's stock traded hands, compared to its average volume of 1,706,748. The firm has a market cap of $83.10 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 3.93 and a beta of 1.38. The stock has a 50 day moving average price of $196.78 and a 200-day moving average price of $207.96. Cintas Co. has a fifty-two week low of $153.45 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 earnings per share. Equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given 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 0.76%. Cintas's dividend payout ratio (DPR) 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.