Schroder Investment Management Group Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Schroder Investment Management Group lifted its stake in Cintas Co. (NASDAQ:CTAS) by 38.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,008,418 shares of the business services provider’s stock after buying an additional 278,915 shares during the period. Schroder Investment Management Group’s holdings in Cintas were worth $184,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. Geode Capital Management LLC raised its position in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Norges Bank acquired a new stake in Cintas during the 4th quarter worth $877,216,000. Franklin Resources Inc. grew its position in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in 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 purchasing an additional 1,286,668 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 1.5 %

CTAS stock opened at $203.22 on Monday. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. 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 company has a market cap of $82.01 billion, a P/E ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. The company’s 50-day moving average price is $201.01 and its 200 day moving average price is $204.62.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.84 EPS. On average, research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is presently 36.11%.

Analysts Set New Price Targets

CTAS has been the subject of several recent research reports. Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Cintas currently has an average rating of “Hold” and an average price target of $210.58.

Cintas Company Profile

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.