Thematics Asset Management Has $11.51 Million Stake in Cintas Co. (NASDAQ:CTAS)

Thematics Asset Management lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 22.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 63,000 shares of the business services provider’s stock after selling 18,000 shares during the period. Thematics Asset Management’s holdings in Cintas were worth $11,510,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CTAS. Geode Capital Management LLC increased its stake in Cintas by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider’s stock valued at $1,544,822,000 after acquiring an additional 219,809 shares during the period. Invesco Ltd. grew its holdings in shares of Cintas by 6.1% during the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider’s stock worth $935,146,000 after purchasing an additional 296,059 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas during the fourth quarter valued at approximately $877,216,000. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% in 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 purchasing an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Cintas by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Truist Financial raised their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and an average price target of $213.62.

Cintas Price Performance

Cintas stock opened at $205.76 on Friday. The business’s fifty day moving average is $201.42 and its two-hundred day moving average is $204.32. 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 firm has a market cap of $83.08 billion, a P/E ratio of 49.61, a P/E/G ratio of 3.98 and a beta of 1.20. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12.

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

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas’s dividend payout ratio is currently 36.11%.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. This trade represents a 23.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

About Cintas

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.