Great Lakes Retirement Inc. Increases Position in Cintas Co. (NASDAQ:CTAS)

Great Lakes Retirement Inc. increased its stake in Cintas Co. (NASDAQ:CTAS) by 46.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,875 shares of the business services provider’s stock after purchasing an additional 1,551 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Cintas were worth $891,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CTAS. State Street Corp increased 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 valued at $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC increased its holdings in shares of Cintas by 297.3% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cintas by 309.7% in 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cintas by 308.2% in 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 in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS opened at $204.61 on Thursday. The company’s 50 day simple moving average is $198.16 and its 200 day simple moving average is $207.47. 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 1 year low of $150.70 and a 1 year high of $228.12. The stock has a market capitalization of $82.57 billion, a PE ratio of 49.33, a P/E/G ratio of 3.95 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the company earned $3.61 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas’s payout ratio is 37.61%.

Analyst Ratings Changes

Several research firms have weighed in on CTAS. Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group dropped their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Robert W. Baird dropped their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $198.46.

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.