Fifth Third Bancorp Has $98.36 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Fifth Third Bancorp increased its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,171 shares of the business services provider's stock after buying an additional 14,180 shares during the quarter. Fifth Third Bancorp owned 0.14% of Cintas worth $98,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Cintas by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider's stock worth $6,206,969,000 after buying an additional 112,361 shares during the last quarter. FMR LLC boosted its stake in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider's stock valued at $1,131,615,000 after acquiring an additional 123,468 shares during the last quarter. Norges Bank purchased a new position in Cintas in the fourth quarter valued at about $872,895,000. Invesco Ltd. grew its position in shares of Cintas by 17.4% during the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider's stock valued at $493,331,000 after acquiring an additional 151,783 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Cintas by 7.6% during the 3rd quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider's stock worth $485,162,000 after purchasing an additional 71,482 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ:CTAS traded down $1.30 during trading on Thursday, reaching $662.29. The company had a trading volume of 389,306 shares, compared to its average volume of 350,113. The company has a fifty day moving average of $651.72 and a two-hundred day moving average of $597.57. 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 stock has a market capitalization of $67.14 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. Cintas Co. has a 12 month low of $456.57 and a 12 month high of $704.84.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results 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 business 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 revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $3.14 earnings per share. Equities research analysts forecast that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors 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 yield of 0.82%. Cintas's dividend payout ratio is currently 37.29%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CTAS shares. Royal Bank of Canada boosted their target price on Cintas from $675.00 to $725.00 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Robert W. Baird increased their target price on shares of Cintas from $660.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Barclays boosted their price target on shares of Cintas from $630.00 to $700.00 and gave the company an "overweight" rating in a research report on Thursday, February 29th. UBS Group raised their price objective on shares of Cintas from $680.00 to $790.00 and gave the stock a "buy" rating in a report on Thursday, March 28th. Finally, Truist Financial boosted their target price on shares of Cintas from $660.00 to $775.00 and gave the company a "buy" rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $661.21.

About Cintas

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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