Kraft Davis & Associates LLC Reduces Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Kraft Davis & Associates LLC lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 842 shares of the business services provider’s stock after selling 144 shares during the quarter. Kraft Davis & Associates LLC’s holdings in Cintas were worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Raymond James Trust N.A. grew its position in Cintas by 10.6% in the 1st quarter. Raymond James Trust N.A. now owns 740 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 71 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Cintas by 16.8% during the 1st quarter. Baird Financial Group Inc. now owns 17,643 shares of the business services provider’s stock valued at $7,505,000 after buying an additional 2,541 shares in the last quarter. Covestor Ltd boosted its position in Cintas by 84.7% in the 1st quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after buying an additional 150 shares during the period. Mackenzie Financial Corp grew its stake in Cintas by 9.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,073 shares of the business services provider’s stock worth $3,009,000 after acquiring an additional 604 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Cintas by 19.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 24,472 shares of the business services provider’s stock valued at $10,410,000 after purchasing an additional 4,037 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock traded down $1.15 during trading on Friday, hitting $661.29. 390,055 shares of the company were exchanged, compared to its average volume of 343,599. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average price of $643.04 and a 200 day moving average price of $587.23. The stock has a market capitalization of $67.04 billion, a price-to-earnings ratio of 45.67, a P/E/G ratio of 3.91 and a beta of 1.27. Cintas Co. has a fifty-two week low of $438.59 and a fifty-two week high of $704.84.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the company earned $3.14 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Cintas Co. will post 14.96 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Cintas from $526.00 to $585.00 and gave the company a “hold” rating in a research report on Friday, December 22nd. Barclays upped their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lifted their price target on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. increased their target price on shares of Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Cintas presently has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Company 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.