Cintas Co. (NASDAQ:CTAS) Holdings Increased by Summit Global Investments

Summit Global Investments lifted its stake in Cintas Co. (NASDAQ:CTAS) by 86.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,027 shares of the business services provider’s stock after acquiring an additional 942 shares during the period. Summit Global Investments’ holdings in Cintas were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC bought a new position in Cintas during the 4th quarter valued at $27,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at $31,000. IAG Wealth Partners LLC boosted its stake in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Cintas during the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management bought a new stake in Cintas in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.8 %

Shares of NASDAQ:CTAS opened at $194.57 on Tuesday. The firm has a fifty day moving average of $200.54 and a two-hundred day moving average of $208.93. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $158.10 and a 12-month high of $228.12. The firm has a market capitalization of $78.52 billion, a P/E ratio of 46.91, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.80%. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTAS shares. Wells Fargo & Company lowered their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. UBS Group decreased their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Truist Financial reduced their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price of $199.79.

About Cintas

Cintas Corporation engages in the provision of 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.