Meiji Yasuda Asset Management Co Ltd. Trims Stock Position in Cintas Co. (NASDAQ:CTAS)

Meiji Yasuda Asset Management Co Ltd. decreased its position in Cintas Co. (NASDAQ:CTAS) by 6.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,172 shares of the business services provider’s stock after selling 1,690 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cintas were worth $4,416,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Wells Fargo & Company cut their price objective on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Finally, Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Down 0.6 %

Cintas stock opened at $193.46 on Wednesday. The stock has a market cap of $78.07 billion, a PE ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock’s fifty day moving average is $200.57 and its two-hundred day moving average is $208.92. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

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.