Sequoia Financial Advisors LLC Acquires 1,121 Shares of Cintas Co. (NASDAQ:CTAS)

Sequoia Financial Advisors LLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 171.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,775 shares of the business services provider’s stock after buying an additional 1,121 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cintas were worth $1,070,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new position in Cintas in the fourth quarter valued at about $379,291,000. Select Equity Group L.P. raised its position in Cintas by 1,344.1% in the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock valued at $213,819,000 after purchasing an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Cintas by 52.5% in the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock valued at $422,825,000 after purchasing an additional 292,701 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Cintas by 8,140.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock valued at $73,609,000 after purchasing an additional 170,939 shares during the last quarter. Finally, Invesco Ltd. raised its position in Cintas by 17.4% in the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after purchasing an additional 151,783 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 0.4 %

NASDAQ CTAS opened at $668.41 on Monday. The business has a 50 day simple moving average of $638.38 and a 200 day simple moving average of $582.31. Cintas Co. has a one year low of $438.59 and a one year high of $704.84. The stock has a market capitalization of $67.76 billion, a P/E ratio of 46.16, a P/E/G ratio of 3.91 and a beta of 1.27. 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 released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm posted $3.14 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Research analysts expect 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. Shareholders of record on Wednesday, May 15th will be paid 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 yield of 0.81%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Analysts Set New Price Targets

Several equities analysts have commented on CTAS shares. Truist Financial increased their target price on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Stifel Nicolaus raised their price objective on Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. The Goldman Sachs Group raised their price objective on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas 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.