NewEdge Wealth LLC Boosts Position in Cintas Co. (NASDAQ:CTAS)

NewEdge Wealth LLC grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,137 shares of the business services provider’s stock after buying an additional 2,564 shares during the period. NewEdge Wealth LLC’s holdings in Cintas were worth $5,871,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management increased its stake in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the period. Addison Advisors LLC boosted its position in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Cintas during the fourth quarter valued at approximately $27,000. Quintet Private Bank Europe S.A. boosted its position in shares of Cintas by 357.1% during the third quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $31,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup assumed coverage on Cintas in a research report on Monday. They set a “sell” rating and a $161.00 price target on the stock. The Goldman Sachs Group dropped their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird dropped their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Trading Down 0.4 %

Shares of NASDAQ:CTAS opened at $203.43 on Friday. The company has a market cap of $82.09 billion, a P/E ratio of 49.05, a PEG ratio of 3.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 1 year low of $154.15 and a 1 year high of $228.12. The stock’s fifty day moving average price is $196.72 and its 200-day moving average price is $208.56.

Cintas (NASDAQ:CTAS) last announced its quarterly 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. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.61 earnings per share. Sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.