Exchange Traded Concepts LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Exchange Traded Concepts LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 124.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,489 shares of the business services provider’s stock after purchasing an additional 14,145 shares during the period. Exchange Traded Concepts LLC’s holdings in Cintas were worth $4,657,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CTAS. Caxton Associates LP bought a new position in Cintas during the second quarter valued at $371,000. AXA S.A. lifted its holdings in shares of Cintas by 13.6% in the 2nd quarter. AXA S.A. now owns 33,899 shares of the business services provider’s stock valued at $23,738,000 after acquiring an additional 4,057 shares during the last quarter. APG Asset Management N.V. grew its position in Cintas by 52.2% in the second quarter. APG Asset Management N.V. now owns 72,569 shares of the business services provider’s stock worth $47,415,000 after acquiring an additional 24,901 shares in the last quarter. MBB Public Markets I LLC increased its stake in Cintas by 1,419.2% during the second quarter. MBB Public Markets I LLC now owns 6,502 shares of the business services provider’s stock worth $4,553,000 after acquiring an additional 6,074 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Cintas by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 152,814 shares of the business services provider’s stock valued at $107,010,000 after purchasing an additional 575 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS opened at $197.39 on Friday. Cintas Co. has a 12-month low of $148.75 and a 12-month high of $228.12. The business’s fifty day simple moving average is $203.34 and its 200-day simple moving average is $205.57. The company has a market capitalization of $79.65 billion, a price-to-earnings ratio of 47.59, a PEG ratio of 3.84 and a beta of 1.37. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.61 EPS. On average, equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.79%. Cintas’s dividend payout ratio is presently 37.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTAS. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $198.46.

Cintas 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.