Franklin Resources Inc. Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Franklin Resources Inc. lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 264.7% in the 3rd quarter, Holdings Channel reports. The firm owned 3,279,029 shares of the business services provider’s stock after acquiring an additional 2,379,932 shares during the period. Franklin Resources Inc.’s holdings in Cintas were worth $693,503,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in 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 period. FMR LLC raised its stake in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC raised its stake 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Cintas by 308.2% during the 3rd 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 valued at $519,419,000 after buying an additional 1,904,926 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of Cintas by 211.1% in 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 buying an additional 1,648,350 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.2 %

Shares of CTAS stock opened at $211.22 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a fifty day simple moving average of $215.13 and a two-hundred day simple moving average of $201.91. The firm has a market capitalization of $85.19 billion, a PE ratio of 53.34, a PEG ratio of 4.15 and a beta of 1.33. Cintas Co. has a 52-week low of $138.39 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business posted $3.70 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. On average, analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTAS. Royal Bank of Canada upped their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Robert W. Baird increased their price objective on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. UBS Group upped their target price 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 stock an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $200.77.

Cintas Company 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.