Appleton Partners Inc. MA Increases Stake in Cintas Co. (NASDAQ:CTAS)

Appleton Partners Inc. MA increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 68.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,263 shares of the business services provider’s stock after buying an additional 5,387 shares during the period. Appleton Partners Inc. MA’s holdings in Cintas were worth $2,423,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. Financial Management Professionals Inc. raised its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management grew 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 worth $26,000 after purchasing an additional 104 shares in the last quarter. Addison Advisors LLC increased its holdings in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after buying an additional 114 shares during the last quarter. Grove Bank & Trust raised its stake in Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after buying an additional 134 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in Cintas during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 1.1 %

NASDAQ:CTAS opened at $202.06 on Friday. Cintas Co. has a 12-month low of $150.70 and a 12-month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $199.35 and its 200-day simple moving average is $206.94. The firm has a market cap of $81.54 billion, a P/E ratio of 48.72, a PEG ratio of 3.87 and a beta of 1.38.

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. 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 currently 37.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTAS shares. The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Truist Financial lowered their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report 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 research note on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $198.46.

About Cintas

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.