Concurrent Investment Advisors LLC Has $1.97 Million Stake in Cintas Co. (NASDAQ:CTAS)

Concurrent Investment Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 65.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,768 shares of the business services provider’s stock after acquiring an additional 4,274 shares during the period. Concurrent Investment Advisors LLC’s holdings in Cintas were worth $1,967,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares during the period. Wellington Management Group LLP boosted its stake in Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after acquiring an additional 529,005 shares during the last quarter. KMG Fiduciary Partners LLC boosted its stake in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC boosted its stake 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 worth $23,283,000 after acquiring an additional 1,988 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTAS. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company cut their price target 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. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $198.46.

Cintas Price Performance

Shares of CTAS opened at $204.43 on Friday. The company has a market cap of $82.50 billion, a price-to-earnings ratio of 49.29, a PEG ratio of 4.02 and a beta of 1.38. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12. The company’s fifty day simple moving average is $196.53 and its 200 day simple moving average is $208.08. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the company earned $3.61 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Cintas Company Profile

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.