Fjarde AP Fonden Fourth Swedish National Pension Fund Has $13.60 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 19.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,448 shares of the business services provider’s stock after purchasing an additional 12,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Cintas were worth $13,602,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CTAS. Cabot Wealth Management Inc. grew its stake in shares of Cintas by 1.5% in the fourth quarter. Cabot Wealth Management Inc. now owns 71,329 shares of the business services provider’s stock valued at $13,032,000 after buying an additional 1,049 shares in the last quarter. MONECO Advisors LLC lifted its stake in Cintas by 12.6% in the fourth quarter. MONECO Advisors LLC now owns 3,166 shares of the business services provider’s stock valued at $578,000 after acquiring an additional 355 shares during the last quarter. Lansing Street Advisors bought a new position in shares of Cintas in the 4th quarter valued at about $253,000. Wealthspire Advisors LLC increased its stake in shares of Cintas by 3.2% during the 4th quarter. Wealthspire Advisors LLC now owns 4,081 shares of the business services provider’s stock worth $746,000 after purchasing an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Cintas by 12.9% during the 4th quarter. First Horizon Advisors Inc. now owns 1,183 shares of the business services provider’s stock worth $216,000 after purchasing an additional 135 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their price objective 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Performance

NASDAQ CTAS opened at $204.43 on Monday. The firm has a 50-day moving average price of $196.53 and a two-hundred day moving average price of $208.39. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12. The company has a market capitalization of $82.50 billion, a P/E ratio of 49.29, a P/E/G ratio of 3.98 and a beta of 1.38. 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 released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.61 earnings per share. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 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.