Abbrea Capital LLC Makes New $224,000 Investment in Cintas Co. (NASDAQ:CTAS)

Abbrea Capital LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 371 shares of the business services provider’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTAS. FMR LLC boosted its position in shares of Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares in the last quarter. Invesco Ltd. boosted its position in shares of Cintas by 17.4% during the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares in the last quarter. Northern Trust Corp boosted its position in shares of Cintas by 7.6% during the 3rd quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock worth $485,162,000 after acquiring an additional 71,482 shares in the last quarter. Morgan Stanley boosted its position in shares of Cintas by 1.9% during the 3rd quarter. Morgan Stanley now owns 823,280 shares of the business services provider’s stock worth $396,007,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock traded up $1.12 during mid-day trading on Thursday, hitting $665.25. The company had a trading volume of 289,735 shares, compared to its average volume of 351,245. The firm has a market cap of $67.44 billion, a PE ratio of 45.99, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84. The stock’s fifty day moving average price is $646.30 and its two-hundred day moving average price is $591.73.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.14 earnings per share. On average, analysts forecast that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTAS. UBS Group increased their price objective on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Cintas in a research note on Monday, April 1st. Robert W. Baird increased their price objective on shares of Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada increased their price objective on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas 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.