NEOS Investment Management LLC Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

NEOS Investment Management LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 32.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,902 shares of the business services provider’s stock after purchasing an additional 11,828 shares during the quarter. NEOS Investment Management LLC’s holdings in Cintas were worth $8,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Great Valley Advisor Group Inc. bought a new stake in Cintas in the 3rd quarter valued at about $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. Fisher Asset Management LLC boosted its holdings in Cintas by 178.3% in the 3rd quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider’s stock worth $507,000 after buying an additional 1,576 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Cintas by 311.3% in the third quarter. Loomis Sayles & Co. L P now owns 436 shares of the business services provider’s stock worth $90,000 after acquiring an additional 330 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Cintas during the 3rd quarter valued at $59,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup began coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Truist Financial decreased their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Trading Up 5.8 %

Shares of CTAS stock opened at $204.71 on Thursday. The business has a 50-day moving average of $200.75 and a 200 day moving average of $208.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The stock has a market capitalization of $82.61 billion, a PE ratio of 49.36, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last issued 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 company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.84 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 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.