Swedbank AB Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Swedbank AB raised its stake in Cintas Co. (NASDAQ:CTAS) by 308.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 221,336 shares of the business services provider’s stock after purchasing an additional 167,123 shares during the quarter. Swedbank AB owned 0.05% of Cintas worth $45,569,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mount Yale Investment Advisors LLC lifted its stake in shares of Cintas by 14.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,229 shares of the business services provider’s stock worth $844,000 after acquiring an additional 157 shares during the period. Janus Henderson Group PLC lifted its position in Cintas by 36.8% in the first quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock valued at $11,081,000 after purchasing an additional 4,340 shares during the period. Virtus Investment Advisers Inc. boosted its holdings in Cintas by 95.3% in the 1st quarter. Virtus Investment Advisers Inc. now owns 742 shares of the business services provider’s stock valued at $510,000 after purchasing an additional 362 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Cintas by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 146,618 shares of the business services provider’s stock valued at $100,731,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in Cintas by 13.5% during the 1st quarter. Motley Fool Asset Management LLC now owns 3,517 shares of the business services provider’s stock worth $2,416,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTAS shares. Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Truist Financial increased their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada boosted their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Stock Performance

NASDAQ CTAS opened at $221.76 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $227.35. The business has a fifty day moving average of $210.64 and a 200-day moving average of $197.43. The stock has a market cap of $89.44 billion, a price-to-earnings ratio of 56.00, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $3.70 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts predict that Cintas Co. will post 4.23 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, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.70%. Cintas’s payout ratio is currently 39.39%.

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.