Vanguard Group Inc. Has $6.83 Billion Stake in Cintas Co. (NASDAQ:CTAS)

Vanguard Group Inc. reduced its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,367,997 shares of the business services provider's stock after selling 4,139,617 shares during the quarter. Vanguard Group Inc. owned about 9.26% of Cintas worth $6,827,133,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its stake in Cintas by 299.3% during 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 purchasing an additional 10,910,285 shares in the last quarter. FMR LLC boosted its stake in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock valued at $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 worth $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the third 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cintas by 308.2% in the third 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 acquiring an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

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Cintas Stock Up 0.9 %

CTAS traded up $1.79 during trading on Thursday, reaching $206.50. 781,597 shares of the stock traded hands, compared to its average volume of 1,540,411. The stock's 50-day simple moving average is $200.75 and its two-hundred day simple moving average is $208.89. 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 Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The stock has a market cap of $83.33 billion, a price-to-earnings ratio of 49.96, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.76%. Cintas's dividend payout ratio (DPR) is 37.59%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CTAS shares. Morgan Stanley lifted their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday. Wells Fargo & Company raised their price objective on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research note on Thursday. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Cintas has a consensus rating of "Hold" and an average price target of $207.57.

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.