Winslow Capital Management LLC Purchases Shares of 1,073,110 Cintas Co. (NASDAQ:CTAS)

Winslow Capital Management LLC purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,073,110 shares of the business services provider’s stock, valued at approximately $196,057,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in Cintas during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC boosted its holdings in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Cintas in the fourth quarter worth approximately $34,000. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTAS. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. The Goldman Sachs Group upped their price objective on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Truist Financial upped their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Wells Fargo & Company boosted their target price on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Finally, Morgan Stanley raised their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $210.58.

Cintas Trading Down 0.2 %

Shares of CTAS stock opened at $190.11 on Wednesday. The company has a market capitalization of $76.72 billion, a P/E ratio of 45.84, a P/E/G ratio of 3.98 and a beta of 1.20. The firm has a 50-day moving average price of $200.86 and a 200 day moving average price of $204.28. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period last year, the firm posted $3.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

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.