LGT Fund Management Co Ltd. Acquires 4,000 Shares of Cintas Co. (NASDAQ:CTAS)

LGT Fund Management Co Ltd. grew its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 63.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,260 shares of the business services provider's stock after acquiring an additional 4,000 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Cintas were worth $1,875,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp lifted its position 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 valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC raised its stake in shares of Cintas by 297.3% in the third 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 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 valued at $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after buying 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 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 in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have issued reports on CTAS. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. UBS Group lowered their price objective 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. The Goldman Sachs Group cut their target price on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Citigroup initiated coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 target price for the company. Finally, Truist Financial dropped their price target on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cintas has an average rating of "Hold" and a consensus price target of $199.79.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded up $2.46 during mid-day trading on Friday, reaching $203.06. 1,804,498 shares of the company traded hands, compared to its average volume of 1,724,391. The company's 50 day moving average price is $198.51 and its 200-day moving average price is $209.06. The firm has a market cap of $81.94 billion, a PE ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last posted 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 business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the business posted $3.61 earnings per share. The company's revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas's dividend payout ratio (DPR) is 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.