Johnson Investment Counsel Inc. Has $26 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Johnson Investment Counsel Inc. grew its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 142,300 shares of the business services provider's stock after purchasing an additional 7,989 shares during the period. Johnson Investment Counsel Inc.'s holdings in Cintas were worth $25,998,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. State Street Corp grew its stake 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 buying an additional 10,910,285 shares during the last quarter. FMR LLC boosted its holdings in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 worth $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its position 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 acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cintas by 308.2% during the 3rd 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

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Cintas Trading Down 0.8 %

Shares of NASDAQ:CTAS traded down $1.63 during mid-day trading on Thursday, reaching $190.58. The stock had a trading volume of 1,608,993 shares, compared to its average volume of 1,528,045. The firm has a market cap of $76.91 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm has a 50 day simple moving average of $199.71 and a two-hundred day simple moving average of $209.24. 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 Co. has a twelve month low of $154.83 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share 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 company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same period last year, the firm posted $3.61 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Cintas's dividend payout ratio (DPR) is currently 37.59%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Morgan Stanley raised their price target on shares of Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Royal Bank of Canada reissued a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their price target on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock 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 given a buy rating to the company's stock. According to MarketBeat.com, Cintas currently has a consensus rating of "Hold" and an average target price of $199.79.

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.