Cintas Co. (NASDAQ:CTAS) Stake Boosted by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 208.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,148 shares of the business services provider’s stock after buying an additional 7,534 shares during the period. Vinva Investment Management Ltd’s holdings in Cintas were worth $2,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. Janus Henderson Group PLC boosted its position in shares of Cintas by 36.8% during the first quarter. Janus Henderson Group PLC now owns 16,137 shares of the business services provider’s stock worth $11,081,000 after buying an additional 4,340 shares during the period. Swedbank AB acquired a new position in shares of Cintas during the first quarter worth approximately $37,658,000. Atria Investments Inc boosted its position in shares of Cintas by 5.7% during the first quarter. Atria Investments Inc now owns 5,680 shares of the business services provider’s stock worth $3,903,000 after buying an additional 306 shares during the period. Cetera Investment Advisers boosted its position in shares of Cintas by 141.3% during the first quarter. Cetera Investment Advisers now owns 25,498 shares of the business services provider’s stock worth $17,518,000 after buying an additional 14,930 shares during the period. Finally, Cetera Advisors LLC boosted its position in shares of Cintas by 185.1% during the first quarter. Cetera Advisors LLC now owns 8,980 shares of the business services provider’s stock worth $6,170,000 after buying an additional 5,830 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $224.05 on Friday. The stock has a fifty day moving average of $212.33 and a 200-day moving average of $198.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas Co. has a one year low of $136.87 and a one year high of $228.12. The company has a market capitalization of $90.36 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analysts Set New Price Targets

CTAS has been the subject of several analyst reports. Barclays boosted their price objective on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Jefferies Financial Group cut their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Finally, Redburn Atlantic began coverage on Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $199.63.

Cintas Company 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.