New York Life Investment Management LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

New York Life Investment Management LLC boosted its stake in Cintas Co. (NASDAQ:CTAS) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,511 shares of the business services provider’s stock after purchasing an additional 95 shares during the quarter. New York Life Investment Management LLC’s holdings in Cintas were worth $8,143,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Janiczek Wealth Management LLC grew its holdings in Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 19 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Cintas by 66.7% during the 3rd 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 during the last quarter. Ancora Advisors LLC grew its holdings in Cintas by 2,833.3% during the 3rd quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 85 shares during the last quarter. Finally, Operose Advisors LLC grew its holdings in Cintas by 944.4% during the 3rd quarter. Operose Advisors LLC now owns 94 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.2 %

NASDAQ:CTAS opened at $662.29 on Friday. The firm has a market capitalization of $67.14 billion, a P/E ratio of 45.74, a PEG ratio of 3.89 and a beta of 1.27. Cintas Co. has a 1-year low of $456.57 and a 1-year high of $704.84. The company’s fifty day moving average price is $651.72 and its 200-day moving average price is $597.57. 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 quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business earned $3.14 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 14.95 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Ratings Changes

A number of brokerages have commented on CTAS. Barclays upped their target price on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Truist Financial upped their target price on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. UBS Group upped their target price on shares of Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Robert W. Baird upped their target price on shares of Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.