Cintas Co. (NASDAQ:CTAS) Shares Bought by First Hawaiian Bank

First Hawaiian Bank raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,105 shares of the business services provider’s stock after buying an additional 73 shares during the period. First Hawaiian Bank’s holdings in Cintas were worth $3,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP grew its position in Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after acquiring an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. Atria Investments Inc lifted its holdings in Cintas by 291.7% during the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock worth $4,595,000 after buying an additional 16,623 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after buying an additional 86,460 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Cintas by 83.2% in the fourth quarter. GAMMA Investing LLC now owns 11,462 shares of the business services provider’s stock worth $2,094,000 after acquiring an additional 5,206 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTAS. Jefferies Financial Group reduced their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Morgan Stanley upped their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. The Goldman Sachs Group cut their price target on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Truist Financial dropped their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Performance

Shares of NASDAQ CTAS traded up $3.93 during midday trading on Wednesday, reaching $192.65. 3,205,688 shares of the company were exchanged, compared to its average volume of 2,647,738. The stock has a fifty day simple moving average of $208.18 and a 200 day simple moving average of $204.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The stock has a market cap of $77.70 billion, a P/E ratio of 48.65, a PEG ratio of 4.15 and a beta of 1.37. Cintas Co. has a 1 year low of $144.13 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last released 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 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the company posted $3.61 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s payout ratio is currently 37.59%.

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.