Meeder Advisory Services Inc. Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Meeder Advisory Services Inc. lifted its stake in Cintas Co. (NASDAQ:CTAS) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,404 shares of the business services provider’s stock after buying an additional 95 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Cintas were worth $2,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC acquired a new position in Cintas in the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas during the fourth quarter worth approximately $31,000. IAG Wealth Partners LLC boosted its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Cintas in the fourth quarter valued at approximately $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Trading Up 1.1 %

Shares of CTAS opened at $207.87 on Wednesday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The firm has a market capitalization of $83.88 billion, a P/E ratio of 50.12, a P/E/G ratio of 3.98 and a beta of 1.41. The firm has a 50-day moving average price of $201.29 and a 200 day moving average price of $204.61. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the company posted $3.84 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CTAS shares. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Finally, Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $210.58.

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.