Meiji Yasuda Asset Management Co Ltd. Trims Position in Cintas Co. (NASDAQ:CTAS)

Meiji Yasuda Asset Management Co Ltd. lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,172 shares of the business services provider’s stock after selling 1,690 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cintas were worth $4,416,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTAS. Zions Bancorporation N.A. lifted its holdings in shares of Cintas by 52.5% in the 4th quarter. Zions Bancorporation N.A. now owns 13,047 shares of the business services provider’s stock valued at $2,384,000 after buying an additional 4,489 shares during the period. TIAA Trust National Association lifted its holdings in Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after acquiring an additional 52 shares during the period. EntryPoint Capital LLC boosted its position in Cintas by 26.8% in the 4th quarter. EntryPoint Capital LLC now owns 1,443 shares of the business services provider’s stock worth $264,000 after purchasing an additional 305 shares in the last quarter. Zevenbergen Capital Investments LLC grew its stake in shares of Cintas by 1.2% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 20,640 shares of the business services provider’s stock worth $3,771,000 after purchasing an additional 240 shares during the period. Finally, Corebridge Financial Inc. increased its holdings in shares of Cintas by 5.7% during the 4th quarter. Corebridge Financial Inc. now owns 133,265 shares of the business services provider’s stock valued at $24,348,000 after purchasing an additional 7,138 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird dropped their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” 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 given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $199.79.

Cintas Stock Down 0.6 %

CTAS stock opened at $193.46 on Wednesday. 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 firm has a 50-day moving average of $200.57 and a two-hundred day moving average of $208.92. Cintas Co. has a 12 month low of $158.10 and a 12 month high of $228.12. The company has a market cap of $78.07 billion, a price-to-earnings ratio of 46.64, a PEG ratio of 3.98 and a beta of 1.41.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. Cintas’s dividend payout ratio is presently 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.