Summit Global Investments Acquires 942 Shares of Cintas Co. (NASDAQ:CTAS)

Summit Global Investments grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 86.8% during the fourth quarter, Holdings Channel reports. The firm owned 2,027 shares of the business services provider’s stock after purchasing an additional 942 shares during the period. Summit Global Investments’ holdings in Cintas were worth $370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Thrivent Financial for Lutherans boosted its stake in shares of Cintas by 331.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,970 shares of the business services provider’s stock worth $4,317,000 after acquiring an additional 16,107 shares in the last quarter. Avior Wealth Management LLC boosted its position in Cintas by 304.1% during the third quarter. Avior Wealth Management LLC now owns 299 shares of the business services provider’s stock worth $62,000 after purchasing an additional 225 shares during the period. Great Valley Advisor Group Inc. acquired a new position in Cintas during the third quarter valued at approximately $223,000. Kingsview Wealth Management LLC raised its position in shares of Cintas by 389.4% in the third quarter. Kingsview Wealth Management LLC now owns 4,874 shares of the business services provider’s stock valued at $1,003,000 after purchasing an additional 3,878 shares during the period. Finally, Swedbank AB lifted its stake in shares of Cintas by 308.3% in the third quarter. Swedbank AB now owns 221,336 shares of the business services provider’s stock worth $45,569,000 after buying an additional 167,123 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $194.57 on Tuesday. Cintas Co. has a twelve month low of $158.10 and a twelve month high of $228.12. 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 $78.52 billion, a P/E ratio of 46.91, a PEG ratio of 3.98 and a beta of 1.41. The company’s 50-day simple moving average is $200.54 and its 200 day simple moving average is $208.93.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.80%. Cintas’s dividend payout ratio is currently 37.59%.

Analyst Ratings Changes

CTAS has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley boosted their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird cut their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $199.79.

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.