Cintas Co. (NASDAQ:CTAS) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,800 shares of the business services provider’s stock after acquiring an additional 5,800 shares during the quarter. Forsta AP Fonden’s holdings in Cintas were worth $21,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. Wellington Management Group LLP raised its stake in shares of Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after purchasing an additional 529,005 shares during the last quarter. KMG Fiduciary Partners LLC raised its position in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after buying an additional 6,341 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after acquiring an additional 1,286,668 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its stake in shares of Cintas by 292.7% in the fourth quarter. LVM Capital Management Ltd. MI now owns 5,482 shares of the business services provider’s stock worth $1,002,000 after acquiring an additional 4,086 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of Cintas stock opened at $200.43 on Wednesday. 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 business’s 50 day moving average price is $202.36 and its 200 day moving average price is $206.39. The company has a market cap of $80.88 billion, a price-to-earnings ratio of 48.33, a PEG ratio of 3.84 and a beta of 1.37. Cintas Co. has a one year low of $148.87 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 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 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.61 EPS. On average, research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. UBS Group decreased their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $198.46.

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.