2,165 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, Holdings Channel.com reports. The firm purchased 2,165 shares of the business services provider’s stock, valued at approximately $396,000.

Other large investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in Cintas by 304.7% during the third quarter. JFS Wealth Advisors LLC now owns 348 shares of the business services provider’s stock worth $72,000 after buying an additional 262 shares during the last quarter. Financial Advocates Investment Management boosted its stake in Cintas by 309.1% during the third quarter. Financial Advocates Investment Management now owns 3,412 shares of the business services provider’s stock worth $703,000 after buying an additional 2,578 shares during the last quarter. Cigna Investments Inc. New boosted its stake in Cintas by 294.0% during the third quarter. Cigna Investments Inc. New now owns 3,625 shares of the business services provider’s stock worth $746,000 after buying an additional 2,705 shares during the last quarter. Stephens Inc. AR boosted its stake in Cintas by 290.9% during the third quarter. Stephens Inc. AR now owns 10,425 shares of the business services provider’s stock worth $2,146,000 after buying an additional 7,758 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its stake in Cintas by 299.7% during the third quarter. Focus Financial Network Inc. now owns 1,403 shares of the business services provider’s stock worth $289,000 after buying an additional 1,052 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTAS. The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Finally, Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.50 on Friday. Cintas Co. has a 1-year low of $154.15 and a 1-year high of $228.12. The company has a market cap of $83.74 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock’s 50-day moving average is $197.13 and its two-hundred day moving average is $208.81.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is 37.59%.

Cintas 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.