SlateStone Wealth LLC Acquires 200 Shares of Cintas Co. (NASDAQ:CTAS)

SlateStone Wealth LLC boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 3.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,500 shares of the business services provider’s stock after purchasing an additional 200 shares during the period. SlateStone Wealth LLC’s holdings in Cintas were worth $1,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. State Street Corp raised its position in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC grew its holdings in 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 last quarter. Geode Capital Management LLC grew its holdings in Cintas by 309.7% during 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 purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the third 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 grew its holdings in 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTAS shares. Citigroup started coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. UBS Group lowered their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $199.79.

Cintas Stock Up 1.2 %

CTAS opened at $192.84 on Monday. Cintas Co. has a fifty-two week low of $155.89 and a fifty-two week high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The firm’s fifty day moving average price is $200.02 and its two-hundred day moving average price is $209.20. The company has a market capitalization of $77.82 billion, a P/E ratio of 46.50, a P/E/G ratio of 3.98 and a beta of 1.41.

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

Cintas Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s payout ratio is presently 37.59%.

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.