Aviva PLC Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Aviva PLC increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,986 shares of the business services provider’s stock after buying an additional 27,021 shares during the period. Aviva PLC’s holdings in Cintas were worth $39,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after acquiring an additional 219,809 shares during the last quarter. Norges Bank acquired a new position in Cintas in the 4th quarter valued at $877,216,000. Franklin Resources Inc. lifted its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Cintas by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,942,751 shares of the business services provider’s stock worth $354,941,000 after buying an additional 47,829 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTAS shares. Morgan Stanley raised their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company upped their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday, March 27th. Citigroup began coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Finally, UBS Group upped their target price on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cintas currently has an average rating of “Hold” and a consensus price target of $210.58.

Cintas Trading Down 7.1 %

Shares of CTAS stock opened at $190.33 on Monday. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The firm has a market cap of $76.81 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The company has a 50-day moving average of $201.48 and a two-hundred day moving average of $204.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 earnings per share. On average, analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

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.