Handelsbanken Fonder AB Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Handelsbanken Fonder AB lifted its position in Cintas Co. (NASDAQ:CTAS) by 26.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,814 shares of the business services provider’s stock after buying an additional 28,492 shares during the period. Handelsbanken Fonder AB’s holdings in Cintas were worth $24,631,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp grew 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 worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC lifted its holdings in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its position 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 purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its stake 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 worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cintas by 308.2% during the 3rd 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 valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 1.1 %

Shares of CTAS opened at $205.93 on Friday. The company has a market capitalization of $83.10 billion, a price-to-earnings ratio of 49.65, a PEG ratio of 3.93 and a beta of 1.38. Cintas Co. has a 52 week low of $153.45 and a 52 week high of $228.12. The stock’s 50-day moving average price is $196.67 and its 200-day moving average price is $207.94. 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 issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned $3.61 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is 37.61%.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Morgan Stanley lifted their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Robert W. Baird cut their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. UBS Group lowered 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. Finally, Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 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 given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.