Dai ichi Life Insurance Company Ltd Has $7.17 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Dai ichi Life Insurance Company Ltd lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 211.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,824 shares of the business services provider’s stock after acquiring an additional 23,625 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Cintas were worth $7,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Checchi Capital Advisers LLC boosted its holdings in shares of Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares in the last quarter. Field & Main Bank lifted its holdings in Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after buying an additional 15 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares in the last quarter. Finally, TIAA Trust National Association lifted its holdings in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $226.47 on Wednesday. The firm has a market cap of $91.34 billion, a PE ratio of 57.19, a PEG ratio of 4.37 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $136.87 and a 1-year high of $228.12. The company has a fifty day moving average price of $211.47 and a 200 day moving average price of $198.14.

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, topping analysts’ consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.70 EPS. Research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s payout ratio is presently 39.39%.

Analysts Set New Price Targets

Several research analysts have issued reports on CTAS shares. Robert W. Baird upped their price objective on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group upped their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Barclays upped their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley upped their target price on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $199.63.

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.