Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 235,138 shares of the business services provider's stock after selling 1,703 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Cintas worth $141,708,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Cintas in the fourth quarter worth $379,291,000. Select Equity Group L.P. boosted its position in Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider's stock valued at $213,819,000 after purchasing an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cintas by 52.5% during the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider's stock valued at $422,825,000 after purchasing an additional 292,701 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Cintas by 8,140.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider's stock valued at $73,609,000 after purchasing an additional 170,939 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Cintas by 17.4% during the third 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 last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Cintas Stock Performance
CTAS traded up $1.84 on Tuesday, hitting $666.56. 340,292 shares of the stock traded hands, compared to its average volume of 345,422. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $67.57 billion, a PE ratio of 45.91, a P/E/G ratio of 3.91 and a beta of 1.27. The business has a fifty day moving average price of $639.36 and a two-hundred day moving average price of $583.58.
Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.58 by $0.26. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company's quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.14 earnings per share. On average, research analysts predict that Cintas Co. will post 14.96 EPS for the current fiscal year.
Cintas Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas's payout ratio is 37.29%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Cintas from $540.00 to $640.00 and gave the company an "overweight" rating in a research report on Friday, December 22nd. The Goldman Sachs Group raised their target price on Cintas from $673.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Royal Bank of Canada raised their target price on Cintas from $675.00 to $725.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on Cintas from $526.00 to $585.00 and gave the company a "hold" rating in a report on Friday, December 22nd. Finally, Robert W. Baird raised their target price on Cintas from $660.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $661.21.
Check Out Our Latest Report on Cintas
About Cintas
(
Free Report)
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.
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