Elo Mutual Pension Insurance Co Decreases Holdings in Cintas Co. (NASDAQ:CTAS)

Elo Mutual Pension Insurance Co lowered its stake in Cintas Co. (NASDAQ:CTAS) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,124 shares of the business services provider’s stock after selling 1,590 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Cintas were worth $6,052,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTAS. State Street Corp boosted its holdings in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. Geode Capital Management LLC lifted its position in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after buying an additional 2,379,932 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cintas by 308.2% during the third 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 acquiring an additional 1,904,926 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Cintas by 137.5% in 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 during the period. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

NASDAQ CTAS opened at $206.25 on Friday. The company has a market cap of $83.23 billion, a PE ratio of 49.73, a P/E/G ratio of 3.98 and a beta of 1.41. The firm’s 50 day moving average price is $200.91 and its 200-day moving average price is $208.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.84 EPS. Sell-side analysts forecast 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 was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is presently 36.11%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Thursday. Truist Financial raised their price target on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. 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’s stock. Based on data from MarketBeat, Cintas presently has an average rating of “Hold” and a consensus price target of $207.57.

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.