Wilmington Savings Fund Society FSB Boosts Holdings in Cintas Co. (NASDAQ:CTAS)

Wilmington Savings Fund Society FSB lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 56.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,814 shares of the business services provider's stock after purchasing an additional 3,898 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Cintas were worth $1,976,000 as of its most recent filing with the SEC.

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% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares in the last quarter. FMR LLC raised its holdings in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC raised its holdings in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its position in shares of 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 acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTAS shares. UBS Group decreased their price target on Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a report on Friday, December 20th. The Goldman Sachs Group decreased their price target on Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on Cintas from $191.00 to $184.00 and set an "underweight" rating for the company in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial decreased their price target on Cintas from $225.00 to $215.00 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 assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $198.46.

Cintas Price Performance

Shares of NASDAQ:CTAS traded up $1.38 during midday trading on Thursday, hitting $205.99. 1,272,966 shares of the stock were exchanged, compared to its average volume of 1,731,223. The stock has a market cap of $83.13 billion, a P/E ratio of 49.67, a PEG ratio of 3.95 and a beta of 1.38. 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 $150.94 and a twelve month high of $228.12. The company has a 50 day moving average price of $197.78 and a 200-day moving average price of $207.45.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.61 EPS. On average, research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

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

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.