Canada Pension Plan Investment Board Buys 8,827 Shares of Cintas Co. (NASDAQ:CTAS)

Canada Pension Plan Investment Board grew its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 66.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,048 shares of the business services provider's stock after acquiring an additional 8,827 shares during the quarter. Canada Pension Plan Investment Board's holdings in Cintas were worth $4,028,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Cintas in the fourth quarter worth about $877,216,000. Franklin Resources Inc. raised its holdings in 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 acquiring an additional 2,379,932 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Cintas by 137.5% in 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 in the last quarter. Winslow Capital Management LLC purchased a new stake in Cintas during the 4th quarter valued at $196,057,000. Finally, Barclays PLC increased its holdings in shares of Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock worth $224,312,000 after purchasing an additional 841,952 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling

In related news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the transaction, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on CTAS. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Robert W. Baird lifted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Finally, UBS Group increased their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $213.62.

Cintas Trading Up 2.7 %

Shares of NASDAQ:CTAS opened at $205.84 on Wednesday. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The company has a market cap of $83.12 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The stock has a 50 day moving average of $201.33 and a 200 day moving average of $204.30. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. During the same period in the prior year, the company posted $3.84 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is 36.11%.

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.

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