Blueshift Asset Management LLC Invests $668,000 in Cintas Co. (NASDAQ:CTAS)

Blueshift Asset Management LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,654 shares of the business services provider’s stock, valued at approximately $668,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in Cintas by 299.3% in 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 purchasing an additional 10,910,285 shares during the period. FMR LLC boosted its stake in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC boosted its stake in Cintas by 309.7% in the 3rd 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 during the period. Franklin Resources Inc. boosted its stake in Cintas by 264.7% in the 3rd 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Cintas by 308.2% in the 3rd 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 worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their price target 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 lowered their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Finally, Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

CTAS opened at $194.46 on Friday. The stock’s 50 day simple moving average is $200.43 and its 200 day simple moving average is $208.92. 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 $158.10 and a 1 year high of $228.12. The firm has a market cap of $78.47 billion, a price-to-earnings ratio of 46.89, a PEG ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s dividend payout ratio is currently 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.