Norden Group LLC Takes Position in Cintas Co. (NASDAQ:CTAS)

Norden Group LLC purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 373 shares of the business services provider’s stock, valued at approximately $225,000.

Several other large investors have also bought and sold shares of CTAS. Invesco Ltd. lifted its stake in shares of Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after purchasing an additional 151,783 shares during the period. American Century Companies Inc. increased its holdings in Cintas by 40.7% in the third quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock valued at $235,009,000 after purchasing an additional 141,375 shares during the last quarter. FMR LLC lifted its stake in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after buying an additional 123,468 shares during the period. Acadian Asset Management LLC boosted its holdings in Cintas by 257.8% during the third quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock worth $69,978,000 after buying an additional 104,854 shares during the last quarter. Finally, Nordea Investment Management AB grew 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 buying an additional 85,662 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $663.59 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. Cintas Co. has a fifty-two week low of $454.70 and a fifty-two week high of $704.84. The stock has a market capitalization of $67.27 billion, a PE ratio of 45.83, a P/E/G ratio of 3.86 and a beta of 1.27. The business has a fifty day moving average price of $651.02 and a two-hundred day moving average price of $597.11.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations 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 prior year, the business posted $3.14 earnings per share. As a group, equities analysts predict that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTAS shares. Bank of America increased their price target on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. The Goldman Sachs Group increased their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Truist Financial boosted their price target on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft upped their price target on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada lifted their target price on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and an average price target of $661.21.

About Cintas

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.