Prossimo Advisors LLC Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Prossimo Advisors LLC boosted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,887 shares of the business services provider's stock after buying an additional 1,271 shares during the period. Cintas accounts for approximately 2.0% of Prossimo Advisors LLC's investment portfolio, making the stock its 9th largest holding. Prossimo Advisors LLC's holdings in Cintas were worth $2,720,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CTAS. State Street Corp boosted its stake in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock valued at $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. FMR LLC grew its position in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock valued at $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC raised its stake in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 buying an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent research reports. Robert W. Baird lowered their target price on shares of Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, December 20th. 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 Friday, December 20th. UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a report 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. Finally, The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $198.46.

Cintas Stock Performance

CTAS stock traded down $1.50 during midday trading on Friday, hitting $204.43. The stock had a trading volume of 2,302,558 shares, compared to its average volume of 1,724,269. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The firm has a market capitalization of $82.50 billion, a price-to-earnings ratio of 49.29, a P/E/G ratio of 4.02 and a beta of 1.38. 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 50-day simple moving average of $196.67 and a 200 day simple moving average of $207.94.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.61 EPS. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. 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 0.76%. Cintas's payout ratio 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.