MetLife Investment Management LLC Has $21.43 Million Stake in Cintas Co. (NASDAQ:CTAS)

MetLife Investment Management LLC boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 288.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,086 shares of the business services provider’s stock after purchasing an additional 77,272 shares during the period. MetLife Investment Management LLC’s holdings in Cintas were worth $21,429,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. Janus Henderson Group PLC raised its holdings in Cintas by 36.8% during the first quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock worth $11,081,000 after acquiring an additional 4,340 shares in the last quarter. Tidal Investments LLC grew its position in shares of Cintas by 44.1% in the 1st quarter. Tidal Investments LLC now owns 6,916 shares of the business services provider’s stock valued at $4,751,000 after acquiring an additional 2,115 shares during the period. Swedbank AB acquired a new position in shares of Cintas during the 1st quarter worth about $37,658,000. Atria Investments Inc raised its holdings in shares of Cintas by 5.7% in the 1st quarter. Atria Investments Inc now owns 5,680 shares of the business services provider’s stock valued at $3,903,000 after purchasing an additional 306 shares during the period. Finally, Cetera Investment Advisers raised its stake in Cintas by 141.3% in the first quarter. Cetera Investment Advisers now owns 25,498 shares of the business services provider’s stock valued at $17,518,000 after buying an additional 14,930 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTAS shares. The Goldman Sachs Group upped their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird increased their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Stock Down 1.1 %

CTAS opened at $224.05 on Thursday. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $228.12. The firm has a market capitalization of $90.36 billion, a P/E ratio of 56.58, a PEG ratio of 4.41 and a beta of 1.32. The company’s 50-day moving average is $211.92 and its 200 day moving average is $198.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Research analysts expect that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.70%. Cintas’s payout ratio is 39.39%.

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.