Choate Investment Advisors Has $263,000 Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Choate Investment Advisors lifted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 18.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,440 shares of the business services provider’s stock after buying an additional 228 shares during the quarter. Choate Investment Advisors’ holdings in Cintas were worth $263,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. lifted its stake 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 last quarter. KMG Fiduciary Partners LLC raised its stake in Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares in the last quarter. Wellington Management Group LLP raised its stake in Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 1.2 %

Shares of Cintas stock opened at $195.17 on Tuesday. The firm has a market capitalization of $78.76 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $200.22 and its 200 day moving average is $209.17. Cintas Co. has a 1 year low of $155.89 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.61 EPS. Equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is 37.59%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTAS shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Citigroup started coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $199.79.

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.