Plato Investment Management Ltd Raises Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Plato Investment Management Ltd boosted its position in Cintas Co. (NASDAQ:CTAS) by 33.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,020 shares of the business services provider’s stock after buying an additional 2,996 shares during the quarter. Plato Investment Management Ltd’s holdings in Cintas were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock valued at $1,199,000 after purchasing an additional 1,450 shares during the period. KMG Fiduciary Partners LLC raised its holdings in shares of Cintas by 121.8% during the fourth quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock valued at $2,109,000 after acquiring an additional 6,341 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Cintas by 211.7% during the third quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC raised its holdings in shares of Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after acquiring an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $207.43 on Tuesday. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business has a fifty day moving average price of $197.54 and a 200-day moving average price of $209.05. The company has a market capitalization of $83.71 billion, a PE ratio of 50.01, a PEG ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating 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 firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $3.61 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas 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, the company presently has an average rating of “Hold” and an average target price of $199.79.

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.