Daiwa Securities Group Inc. Decreases Stake in Cintas Co. (NASDAQ:CTAS)

Daiwa Securities Group Inc. reduced its position in Cintas Co. (NASDAQ:CTAS) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,558 shares of the business services provider’s stock after selling 1,553 shares during the period. Daiwa Securities Group Inc.’s holdings in Cintas were worth $13,622,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CTAS. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cintas by 40.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 235,523 shares of the business services provider’s stock valued at $43,030,000 after purchasing an additional 67,379 shares during the period. Argentarii LLC purchased a new stake in Cintas during the fourth quarter valued at approximately $926,000. OFI Invest Asset Management bought a new position in shares of Cintas during the fourth quarter valued at approximately $37,000. Haven Private LLC bought a new position in shares of Cintas during the fourth quarter valued at approximately $986,000. Finally, Destination Wealth Management grew its stake in shares of Cintas by 432.5% during the fourth quarter. Destination Wealth Management now owns 14,165 shares of the business services provider’s stock valued at $2,588,000 after buying an additional 11,505 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CTAS shares. Citigroup started coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, UBS Group dropped their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Performance

Shares of CTAS opened at $200.61 on Tuesday. Cintas Co. has a 12 month low of $154.16 and a 12 month high of $228.12. The stock has a fifty day moving average price of $199.24 and a 200-day moving average price of $209.36. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $80.95 billion, a PE ratio of 48.37, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $3.61 EPS. Equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. Cintas’s dividend payout ratio (DPR) is 37.59%.

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.