Sumitomo Mitsui DS Asset Management Company Ltd Purchases 2,089 Shares of Cintas Co. (NASDAQ:CTAS)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Cintas Co. (NASDAQ:CTAS) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,988 shares of the business services provider’s stock after acquiring an additional 2,089 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cintas were worth $13,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. boosted its position in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management raised its stake in Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Cintas in the fourth quarter worth about $27,000. Addison Advisors LLC grew its stake in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. Finally, Grove Bank & Trust raised its position in shares of Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average price target of $198.46.

Cintas Stock Down 1.1 %

CTAS stock opened at $202.06 on Friday. The firm’s fifty day moving average is $199.35 and its 200 day moving average is $206.94. The firm has a market cap of $81.54 billion, a PE ratio of 48.72, a P/E/G ratio of 3.87 and a beta of 1.38. Cintas Co. has a one year low of $150.70 and a one year high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm 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%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.61 EPS. On average, research analysts forecast that Cintas Co. will post 4.31 EPS 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 paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio is currently 37.61%.

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.