D.A. Davidson & CO. Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

D.A. Davidson & CO. boosted its position in Cintas Co. (NASDAQ:CTASFree Report) by 176.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,594 shares of the business services provider’s stock after purchasing an additional 1,018 shares during the quarter. D.A. Davidson & CO.’s holdings in Cintas were worth $767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. Osaic Holdings Inc. boosted its holdings in Cintas by 5,584.1% during the 2nd quarter. Osaic Holdings Inc. now owns 1,997,277 shares of the business services provider’s stock valued at $15,337,000 after acquiring an additional 1,962,139 shares during the period. Norges Bank purchased a new stake in shares of Cintas in the fourth quarter valued at approximately $379,291,000. Select Equity Group L.P. boosted its position in Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after purchasing an additional 440,662 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Cintas by 52.5% during the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after purchasing an additional 292,701 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Cintas by 8,140.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after acquiring an additional 170,939 shares during the last quarter. 62.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cintas

In other news, CFO J. Michael Hansen sold 9,774 shares of Cintas stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $596.91, for a total value of $5,834,198.34. Following the completion of the transaction, the chief financial officer now owns 37,732 shares in the company, valued at $22,522,608.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Truist Financial raised their target price on Cintas from $645.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Deutsche Bank Aktiengesellschaft lowered Cintas from a “buy” rating to a “hold” rating and increased their price target for the company from $551.00 to $590.00 in a research note on Friday, December 8th. Finally, Royal Bank of Canada raised their price objective on Cintas from $525.00 to $645.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $560.57.

View Our Latest Research Report on CTAS

Cintas Trading Down 0.7 %

Shares of NASDAQ:CTAS opened at $613.69 on Tuesday. The company has a market cap of $62.21 billion, a P/E ratio of 44.53, a P/E/G ratio of 3.58 and a beta of 1.28. The stock’s 50-day moving average is $589.74 and its 200-day moving average is $538.05. Cintas Co. has a 52-week low of $425.00 and a 52-week high of $626.18. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 2.24.

Cintas (NASDAQ:CTASGet Free Report) last released its earnings results on Thursday, December 21st. The business services provider reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $3.49 by $0.12. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.34 billion. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $3.12 earnings per share. Equities research analysts predict that Cintas Co. will post 14.57 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, February 14th. Cintas’s payout ratio is 39.19%.

About Cintas

(Free Report)

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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