Royal London Asset Management Ltd. Purchases 3,383 Shares of Cintas Co. (NASDAQ:CTAS)

Royal London Asset Management Ltd. boosted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,415 shares of the business services provider's stock after acquiring an additional 3,383 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Cintas were worth $26,385,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. VSM Wealth Advisory LLC purchased a new position in shares of Cintas during the fourth quarter valued at approximately $40,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Cintas by 97.6% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock valued at $1,365,000 after acquiring an additional 3,690 shares in the last quarter. Xponance Inc. boosted its holdings in Cintas by 3.3% during the 4th quarter. Xponance Inc. now owns 79,337 shares of the business services provider's stock worth $14,495,000 after acquiring an additional 2,511 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Cintas by 160.1% in the 4th quarter. Intech Investment Management LLC now owns 325,741 shares of the business services provider's stock worth $59,513,000 after acquiring an additional 200,527 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Cintas in the fourth quarter valued at about $8,194,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTAS shares. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They issued a "sell" rating and a $161.00 price objective for the company. Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a report on Thursday, December 12th. Robert W. Baird dropped their price target on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a research note on Friday, December 20th. Finally, Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $199.79.

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Cintas Stock Performance

Cintas stock traded down $1.11 during mid-day trading on Tuesday, reaching $193.46. The company's stock had a trading volume of 2,090,779 shares, compared to its average volume of 1,533,866. The firm's fifty day moving average price is $200.57 and its two-hundred day moving average price is $208.92. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 12-month low of $158.10 and a 12-month high of $228.12. The company has a market capitalization of $78.07 billion, a P/E ratio of 46.64, a PEG ratio of 3.98 and a beta of 1.41.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.81%. Cintas's dividend payout ratio is currently 37.59%.

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.