Charles Schwab Investment Management Inc. Grows Position in Cintas Co. (NASDAQ:CTAS)

Charles Schwab Investment Management Inc. lifted its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,942,751 shares of the business services provider's stock after buying an additional 47,829 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.48% of Cintas worth $354,941,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC bought a new position in shares of Cintas during the third quarter worth approximately $315,000. Van ECK Associates Corp grew its position in Cintas by 344.0% during the third quarter. Van ECK Associates Corp now owns 78,662 shares of the business services provider's stock worth $16,496,000 after buying an additional 60,946 shares in the last quarter. QRG Capital Management Inc. increased its stake in Cintas by 364.6% during the 3rd quarter. QRG Capital Management Inc. now owns 34,171 shares of the business services provider's stock worth $7,035,000 after acquiring an additional 26,816 shares during the period. Impax Asset Management Group plc increased its stake in Cintas by 211.1% during 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 acquiring an additional 1,648,350 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in Cintas by 221.6% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 312 shares of the business services provider's stock valued at $64,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

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Analysts Set New Price Targets

CTAS has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 12th. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Truist Financial lowered their price objective on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, December 20th. Finally, UBS Group decreased their price target on Cintas from $240.00 to $218.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average price target of $199.79.

Cintas Trading Up 1.2 %

NASDAQ CTAS traded up $2.46 during mid-day trading on Friday, reaching $203.06. 1,804,813 shares of the stock were exchanged, compared to its average volume of 1,724,405. 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 stock has a market cap of $81.94 billion, a P/E ratio of 48.96, a P/E/G ratio of 3.98 and a beta of 1.41. The stock has a 50 day simple moving average of $198.90 and a 200-day simple moving average of $209.23. 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 announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.61 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. 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.