Kraft Davis & Associates LLC Lowers Stock Position in Cintas Co. (NASDAQ:CTAS)

Kraft Davis & Associates LLC trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 14.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 842 shares of the business services provider’s stock after selling 144 shares during the period. Kraft Davis & Associates LLC’s holdings in Cintas were worth $503,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Quarry LP raised its position in shares of Cintas by 221.1% during the 1st quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after acquiring an additional 42 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in Cintas by 113.0% in the fourth 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 raised its holdings in Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Cintas during the 1st quarter worth approximately $36,000. Finally, Clearstead Advisors LLC purchased a new stake in shares of Cintas during the 3rd quarter worth approximately $39,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

NASDAQ CTAS traded down $1.15 during trading on Friday, hitting $661.29. The company’s stock had a trading volume of 390,055 shares, compared to its average volume of 343,599. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The firm has a market cap of $67.04 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 3.91 and a beta of 1.27. The firm has a 50 day moving average price of $643.04 and a 200 day moving average price of $587.23. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.14 earnings per share. Equities research analysts forecast that Cintas Co. will post 14.96 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.82%. Cintas’s payout ratio is currently 37.29%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research analyst reports. Barclays upped their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Royal Bank of Canada raised their target price on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Bank of America upped their target price on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Company 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.