Octavia Wealth Advisors LLC Invests $268,000 in Cintas Co. (NASDAQ:CTAS)

Octavia Wealth Advisors LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 445 shares of the business services provider’s stock, valued at approximately $268,000.

Several other hedge funds have also made changes to their positions in CTAS. Norges Bank acquired a new stake in shares of Cintas during the fourth quarter worth about $379,291,000. Select Equity Group L.P. raised its holdings in Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after purchasing an additional 440,662 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Cintas by 52.5% during the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after purchasing an additional 292,701 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Cintas by 8,140.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after purchasing an additional 170,939 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after purchasing an additional 151,783 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 0.3 %

Shares of CTAS opened at $666.56 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $640.34 and a 200-day simple moving average of $584.89. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The stock has a market cap of $67.57 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the company posted $3.14 EPS. The company’s revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s dividend payout ratio (DPR) is 37.29%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Robert W. Baird increased their price target on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Bank of America increased their price target on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada increased their target price on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $661.21.

Cintas Company Profile

Cintas Corporation provides 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.