Dakota Wealth Management Boosts Position in Cintas Co. (NASDAQ:CTAS)

Dakota Wealth Management lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,603 shares of the business services provider’s stock after purchasing an additional 1,463 shares during the quarter. Dakota Wealth Management’s holdings in Cintas were worth $16,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AE Wealth Management LLC lifted its position in Cintas by 32.0% in the second quarter. AE Wealth Management LLC now owns 3,223 shares of the business services provider’s stock valued at $2,257,000 after purchasing an additional 781 shares during the last quarter. Sei Investments Co. grew its stake in Cintas by 57.4% in the second quarter. Sei Investments Co. now owns 38,848 shares of the business services provider’s stock worth $27,202,000 after purchasing an additional 14,170 shares during the period. Frank Rimerman Advisors LLC grew its stake in shares of Cintas by 38,533.3% in the second quarter. Frank Rimerman Advisors LLC now owns 1,159 shares of the business services provider’s stock worth $812,000 after acquiring an additional 1,156 shares during the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in shares of Cintas in the second quarter worth $298,000. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Cintas by 4.8% during the second quarter. Evergreen Capital Management LLC now owns 827 shares of the business services provider’s stock valued at $579,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTAS. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Wells Fargo & Company cut their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Stock Performance

NASDAQ CTAS opened at $201.23 on Wednesday. Cintas Co. has a 1-year low of $148.75 and a 1-year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market cap of $81.20 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 3.83 and a beta of 1.37. The stock’s 50 day simple moving average is $204.69 and its 200-day simple moving average is $205.50.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 EPS. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

Cintas Profile

Cintas Corporation engages in the provision of 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.