SlateStone Wealth LLC Invests $202,000 in Cintas Co. (NASDAQ:CTAS)

SlateStone Wealth LLC acquired a new position in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 335 shares of the business services provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janiczek Wealth Management LLC raised its position in shares of Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after buying an additional 26 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the last quarter. Impact Partnership Wealth LLC boosted its holdings in shares of Cintas by 2,050.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 86 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 82 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Cintas by 66.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 34 shares in the last quarter. Finally, Ancora Advisors LLC increased its stake in shares of Cintas by 2,833.3% in the 3rd quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 0.3 %

Shares of NASDAQ:CTAS traded down $2.28 during trading on Wednesday, reaching $664.05. The stock had a trading volume of 73,193 shares, compared to its average volume of 343,269. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The firm’s fifty day moving average is $645.27 and its 200 day moving average is $591.22. The stock has a market cap of $67.31 billion, a price-to-earnings ratio of 46.02, a P/E/G ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS 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 analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the firm posted $3.14 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts forecast that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on CTAS. Robert W. Baird lifted their target price on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a 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 company a “hold” rating in a research note on Thursday, March 28th. Barclays boosted their target price on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.