Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Cintas Co. (NASDAQ:CTAS)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Cintas Co. (NASDAQ:CTAS) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,988 shares of the business services provider’s stock after buying an additional 2,089 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cintas were worth $13,700,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. raised its holdings in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Hollencrest Capital Management grew its position in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Cintas during the 4th quarter valued at approximately $27,000. Addison Advisors LLC lifted its holdings in Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $202.06 on Friday. The firm has a market capitalization of $81.54 billion, a P/E ratio of 48.72, a price-to-earnings-growth ratio of 3.87 and a beta of 1.38. The company’s 50-day moving average is $199.35 and its 200 day moving average is $206.94. Cintas Co. has a 1-year low of $150.70 and a 1-year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter 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 forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.61%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research report on Friday, December 20th. 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 note on Friday, December 20th. UBS Group cut their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley lifted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $198.46.

Cintas Profile

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.