Cintas Co. (NASDAQ:CTAS) Shares Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 30,130.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,229 shares of the business services provider’s stock after purchasing an additional 43,086 shares during the period. New Age Alpha Advisors LLC’s holdings in Cintas were worth $7,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised 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 purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Norges Bank acquired a new position in shares of Cintas in the fourth quarter worth $877,216,000. Franklin Resources Inc. lifted its position in shares of Cintas by 264.7% in 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 acquiring an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cintas by 308.2% during 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 worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTAS. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $207.57.

Cintas Stock Performance

CTAS opened at $206.25 on Friday. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The company has a market capitalization of $83.23 billion, a price-to-earnings ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The business has a 50 day moving average price of $200.91 and a two-hundred day moving average price of $208.87. 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 (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (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 analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.84 EPS. Research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced 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 dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is 36.11%.

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.