Cabot Wealth Management Inc. lessened its stake in Cintas Corporation (NASDAQ:CTAS) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,524 shares of the business services provider’s stock after selling 3,654 shares during the quarter. Cintas Corporation accounts for about 1.7% of Cabot Wealth Management Inc.’s holdings, making the stock its 17th biggest position. Cabot Wealth Management Inc.’s holdings in Cintas Corporation were worth $7,578,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Pitcairn Co. bought a new stake in shares of Cintas Corporation during the 3rd quarter worth $200,000. Swiss National Bank boosted its holdings in Cintas Corporation by 1.1% in the 3rd quarter. Swiss National Bank now owns 481,848 shares of the business services provider’s stock valued at $69,521,000 after purchasing an additional 5,400 shares during the period. Bank of Hawaii boosted its holdings in Cintas Corporation by 16.7% in the 3rd quarter. Bank of Hawaii now owns 9,510 shares of the business services provider’s stock valued at $1,372,000 after purchasing an additional 1,360 shares during the period. Principal Financial Group Inc. boosted its holdings in Cintas Corporation by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 135,358 shares of the business services provider’s stock valued at $19,529,000 after purchasing an additional 3,855 shares during the period. Finally, Harvest Management LLC bought a new stake in Cintas Corporation in the 3rd quarter valued at $216,000. Hedge funds and other institutional investors own 66.02% of the company’s stock.
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CTAS has been the subject of a number of research reports. Deutsche Bank AG set a $130.00 price target on shares of Cintas Corporation and gave the company a “hold” rating in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $130.00 price objective on shares of Cintas Corporation in a report on Friday, July 21st. Zacks Investment Research downgraded shares of Cintas Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Morgan Stanley reaffirmed an “underweight” rating and set a $127.00 price objective (up from $117.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. Finally, Stifel Nicolaus raised their price objective on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $143.00.
Cintas Corporation (CTAS) traded up $0.67 during trading on Friday, reaching $146.10. 415,100 shares of the company traded hands, compared to its average volume of 449,918. The company has a quick ratio of 1.57, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Cintas Corporation has a twelve month low of $106.99 and a twelve month high of $152.83. The company has a market cap of $15,531.02, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.18. Cintas Corporation had a net margin of 9.79% and a return on equity of 23.71%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. The business’s revenue was up 27.2% on a year-over-year basis. research analysts anticipate that Cintas Corporation will post 5.36 EPS for the current fiscal year.
The firm also recently disclosed an annual dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 10th will be issued a $1.62 dividend. The ex-dividend date is Thursday, November 9th. This is an increase from Cintas Corporation’s previous annual dividend of $1.33. This represents a dividend yield of 1.07%. Cintas Corporation’s dividend payout ratio (DPR) is 31.89%.
In other news, Director Gerald S. Adolph sold 2,000 shares of Cintas Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the sale, the director now directly owns 13,135 shares in the company, valued at $1,756,018.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.90% of the stock is owned by company insiders.
About Cintas Corporation
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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