Federated Hermes Inc. Has $32.90 Million Stake in Cintas Co. (NASDAQ:CTAS)

Federated Hermes Inc. reduced its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 31.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,051 shares of the business services provider's stock after selling 82,896 shares during the quarter. Federated Hermes Inc.'s holdings in Cintas were worth $32,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTAS. Geode Capital Management LLC lifted its position in shares of Cintas by 309.7% in the 3rd 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 acquiring an additional 6,235,052 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas in the 4th quarter valued at approximately $877,216,000. Franklin Resources Inc. increased its holdings in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after buying an additional 2,379,932 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Finally, Barclays PLC lifted its stake in Cintas by 340.1% in the third quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after acquiring an additional 841,952 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research 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 company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley raised their target price on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday. They set a "buy" rating and a $250.00 price objective on the stock. Finally, Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $213.62.

Insider Transactions at Cintas

In other news, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is currently owned by insiders.

Cintas Stock Performance

Shares of CTAS stock traded up $3.31 during mid-day trading on Friday, reaching $206.04. The stock had a trading volume of 2,116,050 shares, compared to its average volume of 1,693,472. Cintas Co. has a one year low of $162.16 and a one year high of $228.12. The firm has a market cap of $83.20 billion, a PE ratio of 49.68, a P/E/G ratio of 3.98 and a beta of 1.20. The firm's 50 day simple moving average is $201.09 and its 200 day simple moving average is $204.23. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $3.84 earnings per share. On average, analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 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.