Korea Investment CORP Trims Holdings in Cintas Co. (NASDAQ:CTAS)

Korea Investment CORP reduced its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 33.7% in the fourth quarter, HoldingsChannel reports. The fund owned 280,176 shares of the business services provider’s stock after selling 142,180 shares during the period. Korea Investment CORP’s holdings in Cintas were worth $51,188,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. State Street Corp lifted its holdings in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC increased its position in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. raised its stake in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 0.8 %

Cintas stock opened at $206.25 on Friday. Cintas Co. has a one year low of $162.16 and a one year high of $228.12. The stock has a fifty day moving average of $200.91 and a 200 day moving average of $208.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $83.23 billion, a PE ratio of 49.73, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.84 EPS. As a group, sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is presently 36.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTAS shares. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Thursday. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup began coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Finally, Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $207.57.

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.