Handelsbanken Fonder AB Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Handelsbanken Fonder AB lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 26.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,814 shares of the business services provider's stock after buying an additional 28,492 shares during the period. Handelsbanken Fonder AB's holdings in Cintas were worth $24,631,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. State Street Corp raised its holdings in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC raised its holdings in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. raised 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 purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Cintas by 308.2% during 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 purchasing an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CTAS shares. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group cut their price target on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a report on Friday, December 20th. Morgan Stanley increased their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an "equal weight" rating in a report on Thursday, December 12th. Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus target price of $198.46.

Cintas Price Performance

Shares of CTAS stock traded down $1.50 during trading hours on Friday, hitting $204.43. The company's stock had a trading volume of 2,302,558 shares, compared to its average volume of 1,724,269. The business has a fifty day moving average of $196.67 and a 200-day moving average of $207.94. The stock has a market cap of $82.50 billion, a price-to-earnings ratio of 49.29, a P/E/G ratio of 4.02 and a beta of 1.38. Cintas Co. has a twelve month low of $154.15 and a twelve month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business earned $3.61 earnings per share. Cintas's revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas's dividend payout ratio (DPR) is currently 37.61%.

Cintas Company 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.