Cintas Co. (NASDAQ:CTAS) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 260.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 550,089 shares of the business services provider’s stock after purchasing an additional 397,275 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cintas were worth $113,252,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CTAS. Impax Asset Management Group plc grew its holdings in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after acquiring an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Cintas by 293.2% during the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock worth $392,056,000 after acquiring an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cintas by 258.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after acquiring an additional 1,365,825 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Cintas by 299.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after acquiring an additional 964,698 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTAS has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. Truist Financial lifted 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. The Goldman Sachs Group lifted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Trading Up 1.1 %

Shares of NASDAQ:CTAS opened at $226.47 on Wednesday. Cintas Co. has a fifty-two week low of $136.87 and a fifty-two week high of $228.12. The company has a market cap of $91.34 billion, a PE ratio of 57.19, a P/E/G ratio of 4.37 and a beta of 1.32. The company’s 50-day moving average price is $211.47 and its 200 day moving average price is $198.14. 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 (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm earned $3.70 EPS. Cintas’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.69%. Cintas’s dividend payout ratio (DPR) 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.