Royal London Asset Management Ltd. Purchases 3,383 Shares of Cintas Co. (NASDAQ:CTAS)

Royal London Asset Management Ltd. increased its position in Cintas Co. (NASDAQ:CTAS) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,415 shares of the business services provider’s stock after acquiring an additional 3,383 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Cintas were worth $26,385,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after acquiring an additional 1,450 shares during the period. KMG Fiduciary Partners LLC boosted its position in shares of Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares during the period. Wellington Management Group LLP boosted its position in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after acquiring an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its position in shares of Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Down 1.7 %

NASDAQ:CTAS opened at $191.17 on Friday. The company has a fifty day moving average of $200.46 and a 200 day moving average of $208.85. Cintas Co. has a 52 week low of $158.10 and a 52 week high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $77.15 billion, a P/E ratio of 46.09, a P/E/G ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.82%. Cintas’s dividend payout ratio is currently 37.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTAS shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.