Oakworth Capital Inc. Acquires Shares of 80 Cintas Co. (NASDAQ:CTAS)

Oakworth Capital Inc. acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 80 shares of the business services provider’s stock, valued at approximately $48,000.

Several other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the period. Geode Capital Management LLC grew its stake in shares of Cintas by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock valued at $863,795,000 after buying an additional 41,237 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Cintas by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock valued at $656,575,000 after buying an additional 115,712 shares during the period. Royal Bank of Canada grew its stake in shares of Cintas by 5.2% in the 1st quarter. Royal Bank of Canada now owns 1,163,413 shares of the business services provider’s stock valued at $494,904,000 after buying an additional 57,674 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after buying an additional 151,783 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of several analyst reports. Robert W. Baird increased their price target on shares of Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. The Goldman Sachs Group increased their price objective on shares of Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Barclays increased their price objective on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Price Performance

Shares of CTAS opened at $668.51 on Thursday. Cintas Co. has a twelve month low of $438.59 and a twelve month high of $704.84. The firm’s fifty day simple moving average is $641.27 and its 200-day simple moving average is $585.47. The firm has a market capitalization of $67.77 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 3.90 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the business earned $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 Announces Dividend

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

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.