TD Asset Management Inc. Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

TD Asset Management Inc. decreased its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 723,869 shares of the business services provider’s stock after selling 29,535 shares during the period. TD Asset Management Inc.’s holdings in Cintas were worth $132,251,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. China Universal Asset Management Co. Ltd. grew its stake in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after acquiring an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of Cintas by 121.8% in the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after acquiring an additional 6,341 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Cintas by 211.7% in the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in Cintas by 1.6% during the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after purchasing an additional 1,988 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CTAS shares. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Robert W. Baird cut their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $193.46 on Wednesday. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12. The firm has a market capitalization of $78.07 billion, a PE ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business’s fifty day moving average price is $200.57 and its two-hundred day moving average price is $208.92.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is 37.59%.

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.