AustralianSuper Pty Ltd Grows Stake in Cintas Co. (NASDAQ:CTAS)

AustralianSuper Pty Ltd lifted its position in Cintas Co. (NASDAQ:CTAS) by 876.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 516,054 shares of the business services provider’s stock after purchasing an additional 463,190 shares during the period. AustralianSuper Pty Ltd’s holdings in Cintas were worth $94,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Financial Management Professionals Inc. boosted its stake 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 buying an additional 99 shares during the last quarter. Hollencrest Capital Management boosted its stake in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the last quarter. Sound Income Strategies LLC purchased a new position in shares of Cintas in the 4th quarter worth $27,000. Addison Advisors LLC raised its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new position in Cintas in the 4th quarter worth $31,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $204.22 on Friday. 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 company has a market capitalization of $82.41 billion, a P/E ratio of 49.24, a P/E/G ratio of 3.95 and a beta of 1.38. Cintas Co. has a 12 month low of $152.77 and a 12 month high of $228.12. The business’s 50-day moving average is $197.43 and its 200 day moving average is $207.44.

Cintas (NASDAQ:CTAS) last posted its earnings results 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. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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 given 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 dividend yield of 0.76%. Cintas’s dividend payout ratio is currently 37.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut 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. Robert W. Baird cut their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $198.46.

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.