Cintas Co. (NASDAQ:CTAS) Shares Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 97.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,470 shares of the business services provider’s stock after buying an additional 3,690 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Cintas were worth $1,365,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its holdings in Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after buying an additional 6,341 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after buying an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 in the last quarter. Finally, Annex Advisory Services LLC raised its holdings in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock valued at $23,283,000 after purchasing an additional 1,988 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Up 1.5 %

Shares of Cintas stock opened at $196.37 on Thursday. Cintas Co. has a 1 year low of $156.83 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market capitalization of $79.24 billion, a P/E ratio of 47.35, a PEG ratio of 3.98 and a beta of 1.41. The company’s fifty day moving average is $200.39 and its two-hundred day moving average is $209.02.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the business earned $3.61 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTAS shares. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Truist Financial reduced their price objective 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. Robert W. Baird reduced their price objective 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 reduced their price objective 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. Finally, Morgan Stanley raised their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.79.

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.