ICW Investment Advisors LLC Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

ICW Investment Advisors LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 817 shares of the business services provider’s stock after purchasing an additional 24 shares during the quarter. ICW Investment Advisors LLC’s holdings in Cintas were worth $493,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Simplicity Solutions LLC lifted its stake in shares of Cintas by 117.7% in the 4th quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after purchasing an additional 1,743 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Cintas in the fourth quarter worth about $8,015,000. Comerica Bank purchased a new stake in shares of Cintas during the 3rd quarter worth about $10,866,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Cintas by 91.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock valued at $29,315,000 after acquiring an additional 23,197 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Cintas by 16.6% in the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock valued at $360,637,000 after purchasing an additional 85,662 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 0.8 %

Shares of CTAS stock opened at $663.59 on Thursday. 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 Co. has a twelve month low of $454.70 and a twelve month high of $704.84. The company’s 50-day moving average price is $651.02 and its 200-day moving average price is $597.11. The stock has a market cap of $67.27 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 3.86 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.26. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.14 EPS. As a group, equities analysts predict that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTAS. Deutsche Bank Aktiengesellschaft increased their target price on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Bank of America boosted their target price on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Barclays raised their price target on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Robert W. Baird lifted their price objective on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada increased their target price on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas 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.