IFP Advisors Inc Purchases 1,746 Shares of Cintas Co. (NASDAQ:CTAS)

IFP Advisors Inc raised its position in Cintas Co. (NASDAQ:CTAS) by 66.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,366 shares of the business services provider’s stock after purchasing an additional 1,746 shares during the period. IFP Advisors Inc’s holdings in Cintas were worth $798,000 as of its most recent filing with the SEC.

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

Cintas Stock Down 0.4 %

CTAS stock opened at $203.43 on Friday. The company has a market cap of $82.09 billion, a price-to-earnings ratio of 49.05, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a twelve month low of $154.15 and a twelve month high of $228.12. The business has a 50 day moving average price of $196.72 and a two-hundred day moving average price of $208.56. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business earned $3.61 earnings per share. Analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is presently 37.59%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Robert W. Baird reduced their target price 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target 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 assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus target price of $199.79.

About Cintas

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.