Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,172 shares of the business services provider's stock after selling 1,690 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Cintas were worth $4,416,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in shares of Cintas in the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Cintas in the 4th quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the 4th quarter valued at $31,000. IAG Wealth Partners LLC lifted its holdings in shares of Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Cintas in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 63.46% of the company's stock.
Cintas Trading Down 1.5 %
NASDAQ:CTAS traded down $3.03 during mid-day trading on Friday, reaching $203.22. 1,684,835 shares of the company's stock traded hands, compared to its average volume of 1,631,493. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a 50 day moving average price of $201.01 and a 200-day moving average price of $208.92. The firm has a market capitalization of $82.01 billion, a price-to-earnings ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cintas's dividend payout ratio is currently 36.11%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on CTAS shares. The Goldman Sachs Group lifted their price target on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley lifted their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $210.58.
Get Our Latest Stock Analysis on Cintas
About Cintas
(
Free Report)
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.
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