Asahi Life Asset Management CO. LTD. Takes Position in Cintas Co. (NASDAQ:CTAS)

Asahi Life Asset Management CO. LTD. acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,165 shares of the business services provider's stock, valued at approximately $396,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Cintas by 299.3% during the third 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 during the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cintas by 309.7% during the third 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 during the period. Franklin Resources Inc. grew its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cintas by 308.2% in the third 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 purchasing an additional 1,904,926 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTAS. Truist Financial lowered their price target on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, December 20th. The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Finally, Citigroup initiated coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Cintas presently has a consensus rating of "Hold" and an average target price of $199.79.

Cintas Stock Performance

Cintas stock traded down $0.31 during mid-day trading on Monday, reaching $207.19. 617,299 shares of the company's stock were exchanged, compared to its average volume of 1,702,129. The firm has a market capitalization of $83.61 billion, a PE ratio of 50.12, a P/E/G ratio of 3.98 and a beta of 1.38. 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 business's fifty day simple moving average is $197.13 and its 200 day simple moving average is $208.94. Cintas Co. has a one year low of $154.15 and a one year high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $3.61 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas's dividend payout ratio (DPR) is presently 37.59%.

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.