MGB Wealth Management LLC Has $1.33 Million Holdings in Cintas Co. (NASDAQ:CTAS)

MGB Wealth Management LLC grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,248 shares of the business services provider’s stock after buying an additional 52 shares during the quarter. MGB Wealth Management LLC’s holdings in Cintas were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its position in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of CTAS stock opened at $204.61 on Thursday. The firm has a market capitalization of $82.57 billion, a price-to-earnings ratio of 49.33, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. Cintas Co. has a 12-month low of $150.70 and a 12-month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a fifty day moving average of $198.16 and a 200-day moving average of $207.47.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is currently 37.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTAS shares. Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group cut their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. Finally, UBS Group dropped their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Company 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.