AdvisorNet Financial Inc Increases Position in Cintas Co. (NASDAQ:CTAS)

AdvisorNet Financial Inc grew its holdings in Cintas Co. (NASDAQ:CTASGet Rating) by 13.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 683 shares of the business services provider’s stock after buying an additional 81 shares during the period. AdvisorNet Financial Inc’s holdings in Cintas were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Cintas by 0.9% in the first quarter. Vanguard Group Inc. now owns 9,983,902 shares of the business services provider’s stock valued at $4,247,053,000 after buying an additional 92,123 shares during the last quarter. BlackRock Inc. raised its holdings in Cintas by 14.5% during the first quarter. BlackRock Inc. now owns 7,057,910 shares of the business services provider’s stock worth $3,002,364,000 after purchasing an additional 893,231 shares in the last quarter. State Street Corp raised its holdings in Cintas by 1.3% during the fourth quarter. State Street Corp now owns 3,972,942 shares of the business services provider’s stock worth $1,760,689,000 after purchasing an additional 49,786 shares in the last quarter. Royal Bank of Canada raised its holdings in Cintas by 5.2% during the first quarter. Royal Bank of Canada now owns 1,163,413 shares of the business services provider’s stock worth $494,904,000 after purchasing an additional 57,674 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Cintas by 0.4% during the first quarter. Northern Trust Corp now owns 943,641 shares of the business services provider’s stock worth $401,416,000 after purchasing an additional 3,438 shares in the last quarter. 76.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTAS. Robert W. Baird increased their price target on shares of Cintas from $440.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Morgan Stanley increased their price target on shares of Cintas from $357.00 to $362.00 and gave the stock an “equal weight” rating in a report on Friday, July 15th. Wells Fargo & Company began coverage on shares of Cintas in a report on Tuesday, July 12th. They set an “equal weight” rating and a $393.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Cintas from $517.00 to $465.00 and set a “buy” rating for the company in a report on Tuesday, July 5th. Finally, Barclays dropped their target price on shares of Cintas from $500.00 to $435.00 in a report on Friday, July 15th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $435.89.

Cintas Stock Up 0.9 %

CTAS stock opened at $407.84 on Tuesday. The company’s 50 day simple moving average is $414.31 and its 200-day simple moving average is $398.62. The firm has a market capitalization of $41.62 billion, a PE ratio of 35.01, a P/E/G ratio of 3.50 and a beta of 1.44. Cintas Co. has a 12 month low of $343.86 and a 12 month high of $461.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.84 and a quick ratio of 1.51.

Cintas (NASDAQ:CTASGet Rating) last released its quarterly earnings results on Thursday, July 14th. The business services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.47 earnings per share. Equities analysts expect that Cintas Co. will post 12.14 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, August 12th. This is a positive change from Cintas’s previous quarterly dividend of $0.95. This represents a $4.60 annualized dividend and a dividend yield of 1.13%. Cintas’s dividend payout ratio is currently 39.49%.

Cintas Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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