Copeland Capital Management LLC Makes New $13.31 Million Investment in Cintas Co. (NASDAQ:CTAS)

Copeland Capital Management LLC purchased a new position in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 72,855 shares of the business services provider’s stock, valued at approximately $13,311,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. boosted its stake in Cintas by 202.0% in the fourth quarter. Richardson Financial Services Inc. now owns 4,916 shares of the business services provider’s stock valued at $903,000 after acquiring an additional 3,288 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Cintas by 43.6% in the 4th quarter. DAVENPORT & Co LLC now owns 27,074 shares of the business services provider’s stock worth $4,946,000 after purchasing an additional 8,215 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in Cintas by 6.8% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,861 shares of the business services provider’s stock valued at $1,984,000 after purchasing an additional 689 shares during the last quarter. Western Financial Corp CA lifted its stake in Cintas by 1.9% in the fourth quarter. Western Financial Corp CA now owns 12,016 shares of the business services provider’s stock valued at $2,195,000 after purchasing an additional 219 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Cintas by 28.4% during 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 purchasing an additional 1,450 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $200.57 on Monday. The stock has a market cap of $80.94 billion, a P/E ratio of 48.36, a PEG ratio of 3.83 and a beta of 1.37. 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 business’s 50-day moving average price is $201.15 and its two-hundred day moving average price is $206.64. Cintas Co. has a twelve month low of $150.48 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its 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 business had revenue of $2.56 billion during 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%. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.61 earnings per share. As a group, equities analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. Cintas’s payout ratio is 37.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTAS. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley increased their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $198.46.

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.