Geode Capital Management LLC Increases Position in Cintas Co. (NASDAQ:CTAS)

Geode Capital Management LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,468,080 shares of the business services provider’s stock after buying an additional 219,809 shares during the quarter. Geode Capital Management LLC owned approximately 2.10% of Cintas worth $1,544,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its stake 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 worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. Norges Bank purchased a new position in Cintas in the 4th quarter worth about $877,216,000. Franklin Resources Inc. lifted its holdings 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 valued at $693,503,000 after buying an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Cintas by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock worth $354,941,000 after acquiring an additional 47,829 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.87 on Wednesday. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The company has a market cap of $83.88 billion, a PE ratio of 50.12, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The business has a 50-day simple moving average of $201.29 and a two-hundred day simple moving average of $204.61.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the business earned $3.84 EPS. Cintas’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is 36.11%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research reports. UBS Group boosted their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. The Goldman Sachs Group upped their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday, March 27th. Finally, Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $210.58.

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.