Mizuho Markets Americas LLC Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Mizuho Markets Americas LLC increased its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 244.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,144 shares of the business services provider's stock after purchasing an additional 21,390 shares during the quarter. Mizuho Markets Americas LLC's holdings in Cintas were worth $6,206,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Impax Asset Management Group plc increased its holdings in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider's stock valued at $499,236,000 after acquiring an additional 1,648,350 shares in the last quarter. Alecta Tjanstepension Omsesidigt increased its holdings in Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider's stock valued at $335,552,000 after acquiring an additional 1,222,500 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Cintas by 211.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,140,595 shares of the business services provider's stock valued at $234,826,000 after acquiring an additional 774,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Cintas by 291.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 889,402 shares of the business services provider's stock valued at $183,110,000 after acquiring an additional 662,431 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in Cintas by 295.6% during the 3rd quarter. Congress Asset Management Co. now owns 784,589 shares of the business services provider's stock valued at $161,531,000 after acquiring an additional 586,271 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on CTAS. Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. UBS Group raised their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Stifel Nicolaus raised their price target on shares of Cintas from $166.75 to $199.50 and gave the stock a "hold" rating in a research note on Friday, July 19th. The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Finally, Baird R W cut shares of Cintas from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $199.63.

Cintas Trading Down 0.7 %

CTAS stock traded down $1.46 during midday trading on Friday, reaching $215.20. 1,792,986 shares of the company's stock traded hands, compared to its average volume of 1,450,435. The company has a market capitalization of $86.79 billion, a P/E ratio of 54.34, a PEG ratio of 4.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The business has a 50-day moving average price of $221.49 and a two-hundred day moving average price of $195.28.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.10. The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.70 earnings per share. Equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas's dividend payout ratio is currently 39.39%.

Cintas announced that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

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.