123,429 Shares in Cintas Co. (NASDAQ:CTAS) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 123,429 shares of the business services provider’s stock, valued at approximately $22,566,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Prudential PLC increased its stake in shares of Cintas by 135.1% in the 4th quarter. Prudential PLC now owns 16,952 shares of the business services provider’s stock valued at $3,097,000 after acquiring an additional 9,741 shares during the last quarter. Landscape Capital Management L.L.C. increased its stake in Cintas by 41.1% in the fourth quarter. Landscape Capital Management L.L.C. now owns 10,231 shares of the business services provider’s stock valued at $1,869,000 after purchasing an additional 2,978 shares in the last quarter. PAX Financial Group LLC raised its holdings in Cintas by 15.2% in the fourth quarter. PAX Financial Group LLC now owns 4,164 shares of the business services provider’s stock worth $761,000 after purchasing an additional 549 shares during the period. ExodusPoint Capital Management LP boosted its position in shares of Cintas by 254.7% during the fourth quarter. ExodusPoint Capital Management LP now owns 211,617 shares of the business services provider’s stock worth $38,662,000 after purchasing an additional 151,948 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Cintas in the 4th quarter valued at $208,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTAS. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. UBS Group boosted their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Citigroup began coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Finally, Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Two equities 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.com, the company currently has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Trading Down 7.1 %

CTAS opened at $190.33 on Friday. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The company has a fifty day moving average price of $201.48 and a two-hundred day moving average price of $204.55. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $76.81 billion, a P/E ratio of 45.89, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.82%. Cintas’s payout ratio is presently 36.11%.

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.