Citizens Financial Group Inc. RI Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Citizens Financial Group Inc. RI raised its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 311.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,717 shares of the business services provider's stock after acquiring an additional 31,580 shares during the period. Citizens Financial Group Inc. RI's holdings in Cintas were worth $8,589,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC lifted its stake in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider's stock valued at $1,156,000 after buying an additional 14 shares during the period. Axxcess Wealth Management LLC lifted its stake in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider's stock worth $2,034,000 after purchasing an additional 14 shares during the period. Field & Main Bank boosted its holdings in shares of Cintas by 25.0% during the second quarter. Field & Main Bank now owns 75 shares of the business services provider's stock worth $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC grew its position in shares of Cintas by 3.7% in the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider's stock valued at $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association increased its stake in Cintas by 1.2% in the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider's stock valued at $954,000 after purchasing an additional 16 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 0.4 %

Shares of NASDAQ CTAS opened at $218.75 on Thursday. The stock's 50-day simple moving average is $210.05 and its 200-day simple moving average is $196.56. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $227.35. The firm has a market cap of $88.22 billion, a price-to-earnings ratio of 55.24, a PEG ratio of 4.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Friday, November 15th. Cintas's dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTAS. Robert W. Baird upped their price objective on shares of Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Truist Financial upped their price target on shares of Cintas from $212.50 to $225.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Wells Fargo & Company upped their price objective on Cintas from $184.00 to $191.00 and gave the stock an "underweight" rating in a report on Thursday, September 26th. Finally, Redburn Atlantic assumed coverage on Cintas in a research note on Friday, August 9th. They issued a "neutral" rating and a $167.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $199.63.

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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.