Cullen Frost Bankers Inc. Grows Position in Cintas Co. (NASDAQ:CTAS)

Cullen Frost Bankers Inc. boosted its stake in Cintas Co. (NASDAQ:CTAS) by 8.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,138 shares of the business services provider’s stock after buying an additional 495 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Cintas were worth $1,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. State Street Corp raised its position 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 valued at $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC increased its position in shares of Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cintas by 309.7% during the 3rd 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 purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Cintas by 264.7% during the 3rd 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Cintas by 308.2% during the 3rd 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 acquiring an additional 1,904,926 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $203.06 on Friday. The company has a market cap of $81.94 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. 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 12-month low of $154.15 and a 12-month high of $228.12. The stock has a 50-day moving average price of $198.90 and a 200-day moving average price of $209.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $3.61 EPS. As a group, equities analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued 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 dividend yield of 0.77%. Cintas’s dividend payout ratio is 37.59%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $199.79.

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.