Daiwa Securities Group Inc. Buys 758 Shares of Cintas Co. (NASDAQ:CTAS)

Daiwa Securities Group Inc. grew its stake in shares of Cintas Co. (NASDAQ:CTAS) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,269 shares of the business services provider’s stock after acquiring an additional 758 shares during the period. Daiwa Securities Group Inc.’s holdings in Cintas were worth $7,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. FMR LLC grew its holdings in Cintas by 5.5% in the third quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after purchasing an additional 123,468 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cintas by 2.3% in the first quarter. Geode Capital Management LLC now owns 1,871,093 shares of the business services provider’s stock worth $863,795,000 after purchasing an additional 41,237 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Cintas by 8.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock worth $656,575,000 after purchasing an additional 115,712 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Cintas by 5.2% during the first quarter. Royal Bank of Canada now owns 1,163,413 shares of the business services provider’s stock valued at $494,904,000 after buying an additional 57,674 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after buying an additional 151,783 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. Royal Bank of Canada boosted their price objective on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Truist Financial boosted their target price on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Bank of America boosted their target price on shares of Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. UBS Group boosted their target price on shares of Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, Barclays boosted their target price on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Trading Down 0.9 %

CTAS opened at $662.44 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The company’s 50 day simple moving average is $642.18 and its two-hundred day simple moving average is $586.01. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The firm has a market capitalization of $67.15 billion, a price-to-earnings ratio of 45.75, a price-to-earnings-growth ratio of 3.91 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $3.14 EPS. The business’s revenue was up 9.9% on a year-over-year basis. Analysts expect that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is presently 37.29%.

Cintas Profile

Cintas Corporation provides 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.