Jupiter Asset Management Ltd. Makes New $14.05 Million Investment in Cintas Co. (NASDAQ:CTAS)

Jupiter Asset Management Ltd. bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, Holdings Channel reports. The fund bought 76,905 shares of the business services provider’s stock, valued at approximately $14,051,000.

Other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the 4th quarter worth $27,000. Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the 4th quarter worth $31,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the 4th quarter worth $34,000. OFI Invest Asset Management purchased a new stake in shares of Cintas during the 4th quarter worth $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Cintas during the 4th quarter worth $39,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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. Wells Fargo & Company reduced their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley upped their target price on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.79.

Cintas Stock Down 2.2 %

NASDAQ CTAS opened at $192.21 on Thursday. The stock has a market cap of $77.57 billion, a PE ratio of 46.34, a P/E/G ratio of 3.98 and a beta of 1.41. 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 business has a 50 day moving average price of $199.71 and a two-hundred day moving average price of $209.24. Cintas Co. has a fifty-two week low of $154.83 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.61 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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 paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.