Armstrong Advisory Group Inc. Purchases New Stake in Cintas Co. (NASDAQ:CTAS)

Armstrong Advisory Group Inc. acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 352 shares of the business services provider’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CTAS. State Street Corp boosted its holdings in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC lifted its position in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% during the 3rd 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 buying an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its holdings in shares of 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 acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.2 %

Cintas stock opened at $198.05 on Friday. The business’s 50-day simple moving average is $206.18 and its 200-day simple moving average is $204.81. Cintas Co. has a 52 week low of $146.29 and a 52 week high of $228.12. The firm has a market capitalization of $79.92 billion, a PE ratio of 47.75, a PEG ratio of 3.65 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTAS shares. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $198.46.

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.