Cintas Co. (NASDAQ:CTAS) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Cintas Co. (NASDAQ:CTAS) by 97.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,470 shares of the business services provider’s stock after purchasing an additional 3,690 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Cintas were worth $1,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Cintas by 299.3% in the third 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 during the period. FMR LLC raised its position in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC raised its position in Cintas by 309.7% during 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 acquiring an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. raised its position 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 acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $519,419,000 after acquiring an additional 1,904,926 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $196.37 on Thursday. Cintas Co. has a 1 year low of $156.83 and a 1 year high of $228.12. The firm has a 50 day moving average price of $200.39 and a 200 day moving average price of $209.02. The company has a market cap of $79.24 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 3.98 and a beta of 1.41. 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 (NASDAQ:CTAS) last released its quarterly earnings data 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 company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the firm earned $3.61 earnings per share. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.79%. Cintas’s dividend payout ratio is currently 37.59%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Truist Financial lowered their price target 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. Finally, 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 for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Company 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.