Arete Wealth Advisors LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Arete Wealth Advisors LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,139 shares of the business services provider’s stock, valued at approximately $208,000.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Cintas by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after buying an additional 219,809 shares in the last quarter. Norges Bank acquired a new position in Cintas in the 4th quarter valued at $877,216,000. Franklin Resources Inc. lifted its position 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 during the period. JPMorgan Chase & Co. grew its holdings in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Cintas by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock worth $354,941,000 after purchasing an additional 47,829 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $190.54 on Tuesday. 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 Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The firm has a market cap of $76.89 billion, a PE ratio of 45.94, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The firm’s fifty day moving average is $201.24 and its 200-day moving average is $204.48.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.84 EPS. Sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s payout ratio is 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Citigroup assumed coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Morgan Stanley upped their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Truist Financial lifted their price target on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $210.58.

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.