Carderock Capital Management Inc. Buys 2,420 Shares of Cintas Co. (NASDAQ:CTAS)

Carderock Capital Management Inc. boosted its stake in shares of Cintas Co. (NASDAQ:CTASFree Report) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,388 shares of the business services provider’s stock after buying an additional 2,420 shares during the quarter. Cintas makes up approximately 2.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 6th biggest position. Carderock Capital Management Inc.’s holdings in Cintas were worth $10,479,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Fenimore Asset Management Inc. increased its position in Cintas by 0.4% in the 4th quarter. Fenimore Asset Management Inc. now owns 68,954 shares of the business services provider’s stock valued at $41,556,000 after buying an additional 268 shares in the last quarter. TIAA Trust National Association increased its position in Cintas by 2.5% in the 4th quarter. TIAA Trust National Association now owns 1,197 shares of the business services provider’s stock valued at $721,000 after buying an additional 29 shares in the last quarter. State of Michigan Retirement System increased its holdings in Cintas by 0.4% during the 4th quarter. State of Michigan Retirement System now owns 25,443 shares of the business services provider’s stock worth $15,333,000 after purchasing an additional 100 shares in the last quarter. Drive Wealth Management LLC bought a new stake in Cintas during the 4th quarter worth approximately $252,000. Finally, Veracity Capital LLC bought a new stake in Cintas during the 4th quarter worth approximately $210,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CTAS shares. StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Stifel Nicolaus boosted their target price on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research note on Friday, December 22nd. Oppenheimer restated a “market perform” rating on shares of Cintas in a research note on Monday. Bank of America boosted their target price on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada boosted their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $661.21.

View Our Latest Stock Report on CTAS

Cintas Trading Up 0.5 %

NASDAQ:CTAS opened at $678.85 on Thursday. The company has a market cap of $68.82 billion, a P/E ratio of 46.88, a P/E/G ratio of 3.98 and a beta of 1.27. Cintas Co. has a 1 year low of $438.59 and a 1 year high of $704.84. The stock’s fifty day moving average price is $627.66 and its two-hundred day moving average price is $572.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03.

Cintas (NASDAQ:CTASGet Free Report) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the business posted $3.14 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 14.97 EPS for the current year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.80%. Cintas’s payout ratio is 37.29%.

Cintas Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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