Cintas Co. (NASDAQ:CTAS) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 514,928 shares of the business services provider’s stock after purchasing an additional 11,406 shares during the quarter. Principal Financial Group Inc.’s holdings in Cintas were worth $94,077,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Cintas by 299.3% during 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 acquiring an additional 10,910,285 shares in the last quarter. FMR LLC increased its holdings 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 acquiring an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Cintas by 264.7% during 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 acquiring 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% 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 valued at $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTAS shares. Morgan Stanley increased 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. Robert W. Baird cut their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. UBS Group cut their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $198.46.

Cintas Trading Down 0.2 %

Shares of NASDAQ:CTAS opened at $203.74 on Wednesday. Cintas Co. has a 1 year low of $152.77 and a 1 year high of $228.12. The firm has a market capitalization of $82.22 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 3.95 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 business’s 50 day moving average price is $196.96 and its 200-day moving average price is $207.85.

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

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. 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 0.77%. 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.