Headlands Technologies LLC Acquires 3,180 Shares of Cintas Co. (NASDAQ:CTAS)

Headlands Technologies LLC raised its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 91.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,672 shares of the business services provider's stock after purchasing an additional 3,180 shares during the period. Headlands Technologies LLC's holdings in Cintas were worth $1,219,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTAS. State Street Corp grew its stake in Cintas by 299.3% in 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 buying an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cintas by 2.7% in the fourth 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 purchasing an additional 219,809 shares during the last quarter. Norges Bank bought a new position in shares of Cintas during the fourth quarter worth approximately $877,216,000. Franklin Resources Inc. lifted its holdings in Cintas by 264.7% during the 3rd 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. boosted its stake in 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 period. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of CTAS stock traded down $14.52 on Friday, reaching $190.33. The company had a trading volume of 3,969,161 shares, compared to its average volume of 1,645,641. The stock has a market capitalization of $76.81 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. 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 business's 50-day moving average is $201.48 and its 200 day moving average is $204.55. Cintas Co. has a one year low of $162.16 and a one year high of $228.12.

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

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.82%. Cintas's dividend payout ratio is currently 36.11%.

Analyst Ratings Changes

Several research analysts have weighed in on CTAS shares. Truist Financial increased 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Robert W. Baird lifted their price target 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. Wells Fargo & Company increased 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. Finally, Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus price target of $210.58.

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.