Verdence Capital Advisors LLC Buys Shares of 356 Cintas Co. (NASDAQ:CTAS)

Verdence Capital Advisors LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 356 shares of the business services provider’s stock, valued at approximately $215,000.

A number of other large investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Cintas by 13.6% during the fourth quarter. Lindbrook Capital LLC now owns 611 shares of the business services provider’s stock valued at $368,000 after acquiring an additional 73 shares during the last quarter. abrdn plc increased its position in Cintas by 70.1% during the 4th quarter. abrdn plc now owns 36,345 shares of the business services provider’s stock valued at $21,904,000 after buying an additional 14,975 shares in the last quarter. CNB Bank raised its stake in Cintas by 7.1% in the fourth quarter. CNB Bank now owns 1,560 shares of the business services provider’s stock valued at $940,000 after buying an additional 104 shares during the last quarter. Greenleaf Trust grew its stake in shares of Cintas by 2.3% during the fourth quarter. Greenleaf Trust now owns 1,943 shares of the business services provider’s stock worth $1,171,000 after acquiring an additional 44 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new position in shares of Cintas during the fourth quarter valued at about $452,000. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTAS. Royal Bank of Canada raised their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Barclays upped their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Robert W. Baird raised their target price on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Stock Performance

CTAS opened at $666.33 on Wednesday. The company has a market cap of $67.55 billion, a price-to-earnings ratio of 46.02, a PEG ratio of 3.87 and a beta of 1.27. The firm’s fifty day simple moving average is $645.27 and its two-hundred day simple moving average is $591.22. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) 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 analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.14 EPS. Equities analysts anticipate that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Cintas 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.