Union Bancaire Privee UBP SA Buys New Position in Cintas Co. (NASDAQ:CTAS)

Union Bancaire Privee UBP SA purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,610 shares of the business services provider’s stock, valued at approximately $268,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 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 acquiring an additional 10,910,285 shares during the period. FMR LLC grew its position in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its stake 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 valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. raised 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 buying an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 buying an additional 1,904,926 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company dropped their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $198.46.

Cintas Stock Performance

CTAS opened at $200.43 on Wednesday. Cintas Co. has a 1-year low of $148.87 and a 1-year high of $228.12. The stock has a market cap of $80.88 billion, a P/E ratio of 48.33, a P/E/G ratio of 3.84 and a beta of 1.37. The stock’s 50 day simple moving average is $202.71 and its 200 day simple moving average is $206.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.61 earnings per share. As a group, equities analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is currently 37.61%.

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.