US Bancorp DE Decreases Stake in Cintas Co. (NASDAQ:CTAS)

US Bancorp DE cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 219,470 shares of the business services provider’s stock after selling 2,929 shares during the quarter. US Bancorp DE owned about 0.05% of Cintas worth $40,100,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp increased its holdings in 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 buying an additional 10,910,285 shares in the last quarter. FMR LLC grew its holdings in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the period. Geode Capital Management LLC grew its holdings in shares of 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 worth $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. increased its stake in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Truist Financial lowered their price objective 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. Robert W. Baird cut 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. Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $207.50 on Friday. The company has a market cap of $83.74 billion, a P/E ratio of 50.03, a P/E/G ratio of 3.98 and a beta of 1.38. The business has a fifty day simple moving average of $197.13 and a 200-day simple moving average of $208.81. Cintas Co. has a 52 week low of $154.15 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.

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 the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.61 EPS. Equities research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Cintas 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.