Sumitomo Life Insurance Co. Has $2.97 Million Stake in Cintas Co. (NASDAQ:CTAS)

Sumitomo Life Insurance Co. lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,228 shares of the business services provider’s stock after selling 280 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Cintas were worth $2,965,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. State Street Corp grew its holdings in Cintas by 299.3% during 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 acquiring an additional 10,910,285 shares during the last quarter. FMR LLC grew its stake in shares of Cintas by 297.3% during the third 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 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 third 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 lifted its holdings in Cintas by 308.2% during 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 worth $519,419,000 after buying an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTAS shares. UBS Group cut their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Robert W. Baird decreased their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Trading Down 1.1 %

NASDAQ:CTAS opened at $200.43 on Wednesday. The company has a market cap of $80.88 billion, a P/E ratio of 48.33, a price-to-earnings-growth ratio of 3.84 and a beta of 1.37. Cintas Co. has a twelve month low of $148.87 and a twelve month high of $228.12. The business has a 50 day moving average price of $202.71 and a two-hundred day moving average price of $206.25. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.61 EPS. As a group, analysts expect 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. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.61%.

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.