JPMorgan Chase & Co. Has $393.18 Million Holdings in Cintas Co. (NASDAQ:CTAS)

JPMorgan Chase & Co. trimmed its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,152,044 shares of the business services provider's stock after selling 70,483 shares during the quarter. JPMorgan Chase & Co. owned 0.53% of Cintas worth $393,179,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Cintas by 10.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 661,418 shares of the business services provider's stock worth $122,925,000 after acquiring an additional 60,202 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Cintas during the 4th quarter worth about $822,000. Ausdal Financial Partners Inc. lifted its holdings in shares of Cintas by 2.9% in the fourth quarter. Ausdal Financial Partners Inc. now owns 2,184 shares of the business services provider's stock valued at $399,000 after purchasing an additional 61 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Cintas by 14.3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 254,332 shares of the business services provider's stock worth $46,466,000 after buying an additional 31,892 shares during the period. Finally, Zions Bancorporation N.A. grew its holdings in shares of Cintas by 52.5% during the fourth quarter. Zions Bancorporation N.A. now owns 13,047 shares of the business services provider's stock worth $2,384,000 after buying an additional 4,489 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group lifted their price target on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $210.58.

Cintas Stock Performance

CTAS stock traded down $2.07 during midday trading on Thursday, reaching $206.60. 640,196 shares of the company were exchanged, compared to its average volume of 1,779,649. The firm has a market capitalization of $83.37 billion, a price-to-earnings ratio of 49.81, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The business has a 50-day moving average price of $201.48 and a two-hundred day moving average price of $204.64. Cintas Co. has a one year low of $162.16 and a one year 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 announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.84 EPS. Equities research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas's dividend payout ratio (DPR) is currently 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.