Unigestion Holding SA Raises Position in Cintas Co. (NASDAQ:CTAS)

Unigestion Holding SA boosted its position in Cintas Co. (NASDAQ:CTAS) by 503.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,380 shares of the business services provider’s stock after purchasing an additional 10,330 shares during the period. Unigestion Holding SA’s holdings in Cintas were worth $2,549,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CTAS. State Street Corp increased its holdings in Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the last quarter. FMR LLC boosted its position in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in shares of Cintas by 211.1% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after buying an additional 1,648,350 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 0.9 %

Shares of Cintas stock opened at $210.14 on Wednesday. The stock has a market capitalization of $84.75 billion, a price-to-earnings ratio of 53.07, a P/E/G ratio of 4.41 and a beta of 1.34. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company’s 50 day moving average price is $214.62 and its 200-day moving average price is $201.21. Cintas Co. has a 52-week low of $138.39 and a 52-week high of $228.12.

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.74%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird raised their target price on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Truist Financial raised their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $199.63.

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.