C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Makes New Investment in Cintas Co. (NASDAQ:CTAS)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,813 shares of the business services provider’s stock, valued at approximately $879,000.

Several other large investors have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its stake in Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after buying an additional 1,450 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares in the last quarter. KMG Fiduciary Partners LLC raised its position in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC grew its position in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Up 0.7 %

CTAS stock opened at $205.99 on Friday. The company has a market capitalization of $83.13 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. Cintas Co. has a 12 month low of $150.94 and a 12 month high of $228.12. The firm’s fifty day simple moving average is $197.78 and its 200-day simple moving average is $207.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.61 earnings per share. As a group, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTAS. Wells Fargo & Company decreased their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $198.46.

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.