FIL Ltd Acquires 7,764 Shares of Cintas Co. (NASDAQ:CTAS)

FIL Ltd increased its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 62.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,244 shares of the business services provider's stock after purchasing an additional 7,764 shares during the period. FIL Ltd's holdings in Cintas were worth $3,699,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after buying an additional 219,809 shares in the last quarter. Invesco Ltd. raised its position in Cintas by 6.1% during the fourth quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Norges Bank bought a new stake in Cintas during the fourth quarter worth $877,216,000. Franklin Resources Inc. lifted its stake 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 purchasing an additional 2,379,932 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after purchasing an additional 1,286,668 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Transactions at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. This represents a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Truist Financial upped their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group raised 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. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Finally, Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Cintas has a consensus rating of "Hold" and a consensus target price of $213.62.

Cintas Trading Up 0.5 %

CTAS traded up $1.04 during trading on Friday, hitting $205.76. The company's stock had a trading volume of 1,712,106 shares, compared to its average volume of 1,699,841. The firm has a market capitalization of $83.08 billion, a P/E ratio of 49.61, a PEG ratio of 3.98 and a beta of 1.20. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock's fifty day moving average price is $201.41 and its 200-day moving average price is $204.31.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas's payout ratio is 36.11%.

About Cintas

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.