Cintas Co. (NASDAQ:CTAS) Shares Purchased by Simplicity Solutions LLC

Simplicity Solutions LLC lifted its position in Cintas Co. (NASDAQ:CTAS) by 117.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,224 shares of the business services provider’s stock after acquiring an additional 1,743 shares during the quarter. Simplicity Solutions LLC’s holdings in Cintas were worth $1,943,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Graypoint LLC acquired a new position in shares of Cintas in the 4th quarter worth approximately $262,000. NewEdge Wealth LLC raised its stake in Cintas by 6.8% during the 4th quarter. NewEdge Wealth LLC now owns 3,819 shares of the business services provider’s stock valued at $2,302,000 after acquiring an additional 242 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in shares of Cintas in the fourth quarter valued at $223,000. Perigon Wealth Management LLC lifted its holdings in shares of Cintas by 3.5% in the fourth quarter. Perigon Wealth Management LLC now owns 823 shares of the business services provider’s stock valued at $496,000 after buying an additional 28 shares during the period. Finally, Janiczek Wealth Management LLC raised 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 worth $30,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $668.41 on Monday. The business’s 50-day moving average price is $638.38 and its two-hundred day moving average price is $582.31. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The firm has a market cap of $67.76 billion, a PE ratio of 46.16, a P/E/G ratio of 3.91 and a beta of 1.27. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.14 earnings per share. As a group, research analysts forecast that Cintas Co. will post 14.96 earnings per share for the current year.

Cintas Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Bank of America boosted their target price on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. UBS Group upped their price target on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their target price on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Barclays increased their target price on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $661.21.

About Cintas

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.