Cintas Co. (NASDAQ:CTAS) Position Increased by Capital Asset Advisory Services LLC

Posted by Defense World Staff on Jun 18th, 2023

Capital Asset Advisory Services LLC raised its holdings in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 106.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,173 shares of the business services provider’s stock after purchasing an additional 606 shares during the period. Capital Asset Advisory Services LLC’s holdings in Cintas were worth $530,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Alliance LLC bought a new stake in Cintas during the fourth quarter valued at $27,000. Exchange Traded Concepts LLC increased its stake in Cintas by 680.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 78 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 68 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Cintas during the fourth quarter worth about $36,000. Clearstead Advisors LLC bought a new position in shares of Cintas during the third quarter worth about $39,000. Finally, First Horizon Advisors Inc. grew its position in shares of Cintas by 36.6% during the fourth quarter. First Horizon Advisors Inc. now owns 112 shares of the business services provider’s stock worth $51,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 61.92% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $491.36 on Friday. Cintas Co. has a twelve month low of $346.34 and a twelve month high of $497.70. The company has a current ratio of 2.10, a quick ratio of 1.71 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $49.97 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 3.06 and a beta of 1.34. The firm has a 50-day moving average of $467.06 and a two-hundred day moving average of $452.94.

Cintas (NASDAQ:CTAS – Get Rating) last issued its quarterly earnings results on Wednesday, March 29th. The business services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.13. Cintas had a net margin of 15.06% and a return on equity of 38.12%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company earned $2.69 EPS. Cintas’s revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Cintas Co. will post 12.83 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, May 15th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Friday, May 12th. Cintas’s payout ratio is 36.92%.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent research reports. Bank of America upped their price target on shares of Cintas from $513.00 to $523.00 and gave the stock a “neutral” rating in a research report on Thursday, March 30th. StockNews.com initiated coverage on shares of Cintas in a research report on Thursday, May 18th. They set a “buy” rating for the company. UBS Group initiated coverage on shares of Cintas in a research report on Wednesday, May 31st. They set a “buy” rating and a $550.00 price target for the company. Argus upped their price target on shares of Cintas from $500.00 to $510.00 in a research report on Thursday, March 30th. Finally, Stifel Nicolaus upped their price target on shares of Cintas from $503.00 to $512.00 in a research report on Thursday, March 30th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $505.00.

Cintas Profile

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Cintas Corporation provides 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.