Cintas Co. (NASDAQ:CTAS) Holdings Decreased by Palmer Knight Co

Palmer Knight Co lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,396 shares of the business services provider’s stock after selling 25 shares during the period. Cintas makes up 4.1% of Palmer Knight Co’s investment portfolio, making the stock its 7th largest holding. Palmer Knight Co’s holdings in Cintas were worth $6,868,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CTAS. Janiczek Wealth Management LLC increased its position in shares of Cintas by 113.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 26 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Cintas by 66.7% during the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 34 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Cintas by 2,833.3% during the third quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock valued at $43,000 after buying an additional 85 shares during the last quarter. Finally, Operose Advisors LLC increased its holdings in Cintas by 944.4% in the 3rd quarter. Operose Advisors LLC now owns 94 shares of the business services provider’s stock worth $45,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock traded down $0.75 during trading hours on Monday, hitting $665.48. 96,721 shares of the stock traded hands, compared to its average volume of 347,153. The firm’s 50 day moving average price is $648.22 and its 200-day moving average price is $594.56. The stock has a market capitalization of $67.46 billion, a price-to-earnings ratio of 46.01, a P/E/G ratio of 3.90 and a beta of 1.27. Cintas Co. has a 1 year low of $454.70 and a 1 year high of $704.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.14 earnings per share. As a group, equities analysts expect that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. Barclays boosted their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada raised their price target on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their price objective on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Robert W. Baird raised their target price on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Company Profile

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.