Skandinaviska Enskilda Banken AB publ Acquires 5,881 Shares of Cintas Co. (NASDAQ:CTAS)

Skandinaviska Enskilda Banken AB publ increased its holdings in Cintas Co. (NASDAQ:CTAS) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,711 shares of the business services provider’s stock after buying an additional 5,881 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.05% of Cintas worth $37,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vestcor Inc lifted its position in Cintas by 171.3% during the fourth quarter. Vestcor Inc now owns 27,469 shares of the business services provider’s stock worth $5,019,000 after purchasing an additional 17,345 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cintas during the 4th quarter worth approximately $2,587,000. Rakuten Securities Inc. boosted its position in shares of Cintas by 70.6% during the 4th quarter. Rakuten Securities Inc. now owns 575 shares of the business services provider’s stock worth $105,000 after acquiring an additional 238 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Cintas by 13.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 22,424 shares of the business services provider’s stock valued at $4,097,000 after acquiring an additional 2,725 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Cintas during the fourth quarter valued at approximately $14,051,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Morgan Stanley lifted their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Finally, Truist Financial cut their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Trading Down 2.2 %

NASDAQ:CTAS opened at $192.21 on Thursday. Cintas Co. has a 12 month low of $154.83 and a 12 month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $77.57 billion, a price-to-earnings ratio of 46.34, a PEG ratio of 3.98 and a beta of 1.41. The firm has a fifty day simple moving average of $199.71 and a two-hundred day simple moving average of $209.24.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.61 EPS. Analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

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.