Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 7.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,697 shares of the business services provider’s stock after selling 370 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Cintas were worth $1,998,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in shares of Cintas in the 1st quarter worth approximately $32,000. HWG Holdings LP purchased a new position in shares of Cintas in the 4th quarter worth approximately $35,000. Riverview Trust Co purchased a new position in shares of Cintas in the 1st quarter worth approximately $35,000. MCF Advisors LLC purchased a new position in shares of Cintas in the 1st quarter worth approximately $39,000. Finally, O Dell Group LLC boosted its stake in Cintas by 466.7% in the 4th quarter. O Dell Group LLC now owns 102 shares of the business services provider’s stock worth $45,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on CTAS shares. Morgan Stanley lifted their target price on shares of Cintas from $357.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Friday, July 15th. Royal Bank of Canada decreased their price objective on shares of Cintas from $475.00 to $450.00 in a research note on Friday, July 15th. Barclays decreased their price objective on shares of Cintas from $500.00 to $435.00 in a research note on Friday, July 15th. Robert W. Baird boosted their target price on shares of Cintas from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Cintas from $517.00 to $465.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.89.
Cintas Price Performance
Cintas (NASDAQ:CTAS – Get Rating) last released its earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 12.15 EPS for the current fiscal year.
Cintas Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be issued a dividend of $1.15 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.95. The ex-dividend date is Friday, August 12th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.13%. Cintas’s dividend payout ratio is presently 39.49%.
Cintas Corporation provides 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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