Empire Life Investments Inc. Decreases Stake in Cintas Co. (NASDAQ:CTAS)

Empire Life Investments Inc. lowered its position in Cintas Co. (NASDAQ:CTAS) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 53,218 shares of the business services provider’s stock after selling 863 shares during the quarter. Empire Life Investments Inc.’s holdings in Cintas were worth $9,723,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its holdings in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management increased its holdings in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Addison Advisors LLC increased its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in Cintas in the 4th quarter worth about $27,000. Finally, Capital Advisors Ltd. LLC boosted its stake in Cintas by 321.1% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock worth $33,000 after purchasing an additional 122 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $204.22 on Friday. The business has a 50 day moving average of $197.43 and a 200 day moving average of $207.44. The company has a market capitalization of $82.41 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38. Cintas Co. has a 1-year low of $152.77 and a 1-year high of $228.12. 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 released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.61 EPS. On average, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is currently 37.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.