Avanza Fonder AB Grows Holdings in Cintas Corporation $CTAS

Avanza Fonder AB increased its holdings in Cintas Corporation (NASDAQ:CTAS) by 42.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,481 shares of the business services provider’s stock after acquiring an additional 16,022 shares during the quarter. Avanza Fonder AB’s holdings in Cintas were worth $10,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Beacon Investment Advisors LLC grew its holdings in Cintas by 3.2% in the second quarter. Beacon Investment Advisors LLC now owns 1,725 shares of the business services provider’s stock worth $381,000 after purchasing an additional 53 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Cintas by 0.3% during the second quarter. CreativeOne Wealth LLC now owns 16,697 shares of the business services provider’s stock valued at $3,721,000 after purchasing an additional 54 shares during the last quarter. Woodward Diversified Capital LLC lifted its holdings in shares of Cintas by 4.7% during the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 55 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of Cintas by 0.8% in the 3rd quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock worth $1,415,000 after purchasing an additional 56 shares in the last quarter. Finally, Oakworth Capital Inc. boosted its position in shares of Cintas by 4.8% in the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock worth $267,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTAS shares. Morgan Stanley reduced their price objective on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Bank of America assumed coverage on Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price on the stock. Weiss Ratings raised Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Argus raised Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.25.

Cintas Stock Performance

CTAS stock opened at $181.21 on Tuesday. The stock has a market capitalization of $72.46 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 3.23 and a beta of 0.95. Cintas Corporation has a 12-month low of $177.94 and a 12-month high of $229.24. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. The stock’s 50 day simple moving average is $194.71 and its 200 day simple moving average is $192.27.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were paid a $0.45 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s payout ratio is currently 52.48%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.