Perigon Wealth Management LLC Raises Stake in Cintas Co. (NASDAQ:CTAS)

Perigon Wealth Management LLC increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 823 shares of the business services provider’s stock after purchasing an additional 28 shares during the period. Perigon Wealth Management LLC’s holdings in Cintas were worth $496,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Janiczek Wealth Management LLC boosted its position in shares of Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Cintas by 179.2% in the fourth quarter. Cerity Partners LLC now owns 36,449 shares of the business services provider’s stock worth $21,966,000 after purchasing an additional 23,392 shares during the last quarter. Cedrus LLC lifted its position in shares of Cintas by 3.1% in the fourth quarter. Cedrus LLC now owns 860 shares of the business services provider’s stock worth $518,000 after buying an additional 26 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in Cintas during the fourth quarter valued at approximately $231,000. Finally, Executive Wealth Management LLC increased its stake in Cintas by 9.3% in the 4th quarter. Executive Wealth Management LLC now owns 5,214 shares of the business services provider’s stock worth $3,142,000 after acquiring an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CTAS shares. JPMorgan Chase & Co. boosted their price target on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. The Goldman Sachs Group increased their price target on shares of Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. UBS Group upped their price objective on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Robert W. Baird boosted their target price on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, Truist Financial raised their price target on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas currently has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Stock Performance

Shares of CTAS stock opened at $664.72 on Tuesday. Cintas Co. has a 12-month low of $438.59 and a 12-month high of $704.84. The business’s fifty day simple moving average is $639.36 and its 200-day simple moving average is $583.58. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The company has a market cap of $67.38 billion, a PE ratio of 45.91, a PEG ratio of 3.91 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.14 EPS. Analysts expect that Cintas Co. will post 14.96 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Company Profile

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.