Franklin Resources Inc. Buys 2,379,932 Shares of Cintas Co. (NASDAQ:CTAS)

Franklin Resources Inc. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 264.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,279,029 shares of the business services provider’s stock after acquiring an additional 2,379,932 shares during the quarter. Franklin Resources Inc. owned approximately 0.81% of Cintas worth $693,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. State Street Corp raised its stake in shares of Cintas by 299.3% during 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 during the last quarter. FMR LLC increased its holdings in 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 period. Geode Capital Management LLC raised its position in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Cintas by 211.1% in the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 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 $211.22 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $85.19 billion, a P/E ratio of 53.34, a P/E/G ratio of 4.15 and a beta of 1.33. The business’s 50 day moving average price is $215.13 and its 200-day moving average price is $201.91. Cintas Co. has a 52 week low of $138.39 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTAS. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. The Goldman Sachs Group boosted their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays increased their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Cintas has an average rating of “Hold” and an average target price of $200.77.

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.