China Universal Asset Management Co. Ltd. Purchases 1,450 Shares of Cintas Co. (NASDAQ:CTAS)

China Universal Asset Management Co. Ltd. increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 28.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,563 shares of the business services provider’s stock after acquiring an additional 1,450 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cintas were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp boosted 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 worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC raised its holdings in shares of Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its holdings 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 valued at $693,503,000 after buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $519,419,000 after buying an additional 1,904,926 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CTAS shares. Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company decreased their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” 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 given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Performance

CTAS opened at $200.57 on Friday. The company has a market cap of $80.94 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 3.83 and a beta of 1.37. The firm’s fifty day simple moving average is $201.15 and its two-hundred day simple moving average is $206.46. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 52-week low of $150.48 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data 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. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the firm posted $3.61 EPS. Cintas’s revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. Cintas’s payout ratio is presently 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.