Royal London Asset Management Ltd. Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Royal London Asset Management Ltd. grew its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 310.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,032 shares of the business services provider's stock after purchasing an additional 106,680 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Cintas were worth $29,036,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cintas by 308.2% during 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 valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. Impax Asset Management Group plc lifted its position in shares of 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 valued at $499,236,000 after acquiring an additional 1,648,350 shares during the period. King Luther Capital Management Corp boosted its stake in Cintas by 293.2% during the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider's stock worth $392,056,000 after acquiring an additional 1,419,975 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cintas by 258.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider's stock worth $390,127,000 after purchasing an additional 1,365,825 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. The Goldman Sachs Group boosted their price objective on Cintas from $212.00 to $236.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on shares of Cintas in a research note on Friday, August 9th. They set a "neutral" rating and a $167.50 price target for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Stock Performance

Shares of NASDAQ CTAS traded up $0.49 during midday trading on Friday, reaching $223.71. The company's stock had a trading volume of 1,329,039 shares, compared to its average volume of 1,352,479. The stock has a market capitalization of $90.22 billion, a P/E ratio of 56.49, a PEG ratio of 4.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a 50 day moving average price of $214.14 and a 200-day moving average price of $200.27. Cintas Co. has a 12-month low of $136.87 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business's revenue was up 6.8% on a year-over-year basis. As a group, equities analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas's dividend payout ratio is 39.39%.

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.