Tokio Marine Asset Management Co. Ltd. Has $2.09 Million Stake in Cintas Co. (NASDAQ:CTAS)

Tokio Marine Asset Management Co. Ltd. increased its stake in Cintas Co. (NASDAQ:CTAS) by 311.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,172 shares of the business services provider’s stock after purchasing an additional 7,697 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cintas were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its holdings in shares of Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Financial Management Professionals Inc. boosted its position in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management grew its stake in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter valued at approximately $27,000. Finally, Addison Advisors LLC lifted its position in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their price target on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company increased their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 2.9 %

Shares of CTAS opened at $217.05 on Friday. The firm’s 50-day simple moving average is $220.75 and its 200 day simple moving average is $194.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market cap of $87.54 billion, a P/E ratio of 54.81, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 earnings per share. On average, analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas announced that its Board of Directors has authorized a stock repurchase program on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas’s payout ratio is presently 39.39%.

Cintas Company 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.