Royal London Asset Management Ltd. Buys 3,383 Shares of Cintas Co. (NASDAQ:CTAS)

Royal London Asset Management Ltd. grew its stake in Cintas Co. (NASDAQ:CTAS) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 144,415 shares of the business services provider’s stock after purchasing an additional 3,383 shares during the period. Royal London Asset Management Ltd.’s holdings in Cintas were worth $26,385,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTAS. State Street Corp raised its holdings in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC raised its holdings in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cintas by 308.2% in 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 worth $519,419,000 after buying an additional 1,904,926 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $191.17 on Friday. The firm’s 50-day moving average price is $200.46 and its 200-day moving average price is $208.85. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $77.15 billion, a PE ratio of 46.09, a PEG ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52-week low of $158.10 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.61 EPS. As a group, analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Morgan Stanley upped their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Truist Financial reduced their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.79.

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.