Cintas Co. (NASDAQ:CTAS) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 258.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,894,922 shares of the business services provider’s stock after acquiring an additional 1,365,825 shares during the period. Charles Schwab Investment Management Inc. owned about 0.47% of Cintas worth $390,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc grew its stake in Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after buying an additional 1,648,350 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Cintas by 293.2% during the third quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after acquiring an additional 1,419,975 shares during the period. Alecta Tjanstepension Omsesidigt grew its position in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after acquiring an additional 1,222,500 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Cintas by 299.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock worth $264,870,000 after acquiring an additional 964,698 shares during the period. Finally, Swiss National Bank lifted its position in Cintas by 301.0% in the 3rd quarter. Swiss National Bank now owns 1,084,400 shares of the business services provider’s stock valued at $223,256,000 after purchasing an additional 814,000 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of Cintas stock opened at $221.76 on Friday. The stock has a market cap of $89.44 billion, a PE ratio of 56.00, a price-to-earnings-growth ratio of 4.29 and a beta of 1.32. Cintas Co. has a 12 month low of $136.87 and a 12 month high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $210.64 and a 200-day simple moving average of $197.09.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.70 EPS. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several analyst reports. Royal Bank of Canada raised their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. UBS Group upped their price objective on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial raised their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Redburn Atlantic began coverage on shares of Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Finally, The Goldman Sachs Group increased their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $199.63.

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.