OLD National Bancorp IN Has $4.87 Million Holdings in Cintas Co. (NASDAQ:CTAS)

OLD National Bancorp IN trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,672 shares of the business services provider’s stock after selling 96 shares during the period. OLD National Bancorp IN’s holdings in Cintas were worth $4,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the last quarter. FMR LLC lifted its position in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after acquiring an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its position 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Up 1.8 %

Shares of Cintas stock opened at $202.18 on Friday. The stock has a market capitalization of $81.59 billion, a P/E ratio of 48.75, a price-to-earnings-growth ratio of 3.84 and a beta of 1.37. Cintas Co. has a 12-month low of $150.48 and a 12-month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $201.96 and a 200 day simple moving average of $206.34.

Cintas (NASDAQ:CTAS) last announced 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 return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business earned $3.61 EPS. Cintas’s revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas’s dividend payout ratio is 37.61%.

Analysts Set New Price Targets

A number of analysts have issued reports on CTAS shares. UBS Group lowered their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley increased their price target 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. The Goldman Sachs Group decreased their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company cut their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $198.46.

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.