Franklin Street Advisors Inc. NC Boosts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Franklin Street Advisors Inc. NC increased its holdings in Cintas Co. (NASDAQ:CTAS) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,032 shares of the business services provider’s stock after buying an additional 15,925 shares during the period. Cintas accounts for 1.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 28th biggest position. Franklin Street Advisors Inc. NC’s holdings in Cintas were worth $19,189,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp lifted its holdings in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC boosted its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its position in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. raised its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group dropped their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price objective 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 decreased their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Morgan Stanley upped their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Performance

Shares of NASDAQ CTAS traded down $1.55 during midday trading on Friday, reaching $191.10. The company had a trading volume of 539,333 shares, compared to its average volume of 2,296,525. The business’s 50-day simple moving average is $207.61 and its 200 day simple moving average is $204.21. Cintas Co. has a 1 year low of $145.91 and a 1 year high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $77.07 billion, a P/E ratio of 48.26, a P/E/G ratio of 4.15 and a beta of 1.37.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.61 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, November 15th. Cintas’s payout ratio is presently 37.59%.

Cintas Company 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.