Tyche Wealth Partners LLC Invests $668,000 in Cintas Co. (NASDAQ:CTAS)

Tyche Wealth Partners LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,658 shares of the business services provider’s stock, valued at approximately $668,000.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp grew its position 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 buying an additional 10,910,285 shares during the period. FMR LLC grew its position in shares of Cintas by 297.3% during 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 during the period. Geode Capital Management LLC grew its position 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 worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cintas by 308.2% in the 3rd 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 valued at $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 Trading Up 0.5 %

Shares of Cintas stock opened at $201.60 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $81.35 billion, a P/E ratio of 48.61, a P/E/G ratio of 3.87 and a beta of 1.38. Cintas Co. has a 12-month low of $150.70 and a 12-month high of $228.12. The business’s 50 day moving average is $200.20 and its 200-day moving average is $206.99.

Cintas (NASDAQ:CTAS) last posted its 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 analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.61 EPS. Equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company 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 dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is 37.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Wells Fargo & Company decreased their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.