Milestone Asset Management LLC Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Milestone Asset Management LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 46.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,339 shares of the business services provider's stock after purchasing an additional 3,622 shares during the period. Milestone Asset Management LLC's holdings in Cintas were worth $2,072,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC increased its stake in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider's stock worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Up 1.6 %

Shares of CTAS traded up $3.21 during mid-day trading on Thursday, reaching $201.77. The company's stock had a trading volume of 376,229 shares, compared to its average volume of 1,812,822. The stock has a market cap of $81.42 billion, a PE ratio of 48.63, a P/E/G ratio of 3.84 and a beta of 1.37. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52 week low of $150.48 and a 52 week high of $228.12. The company's fifty day moving average price is $201.96 and its two-hundred day moving average price is $206.34.

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

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, December 20th. Truist Financial reduced their price objective 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. Finally, Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $198.46.

Cintas Company 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.