Daiwa Securities Group Inc. Purchases 60,362 Shares of Cintas Co. (NASDAQ:CTAS)

Daiwa Securities Group Inc. lifted its stake in Cintas Co. (NASDAQ:CTAS) by 383.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,111 shares of the business services provider’s stock after purchasing an additional 60,362 shares during the period. Daiwa Securities Group Inc.’s holdings in Cintas were worth $15,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Impax Asset Management Group plc raised its stake in shares of Cintas by 211.1% in 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 purchasing an additional 1,648,350 shares during the period. King Luther Capital Management Corp raised its stake in shares of Cintas by 293.2% in the 3rd quarter. King Luther Capital Management Corp now owns 1,904,296 shares of the business services provider’s stock valued at $392,056,000 after purchasing an additional 1,419,975 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Cintas by 258.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock valued at $390,127,000 after purchasing an additional 1,365,825 shares during the period. Alecta Tjanstepension Omsesidigt raised its stake in shares of Cintas by 300.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Cintas by 299.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,286,525 shares of the business services provider’s stock valued at $264,870,000 after purchasing an additional 964,698 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent research reports. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research note on Thursday, September 26th. Royal Bank of Canada lifted their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. UBS Group lifted their target price on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 0.1 %

Shares of CTAS opened at $221.76 on Monday. Cintas Co. has a one year low of $136.87 and a one year high of $227.35. The company has a market cap of $89.44 billion, a P/E ratio of 56.00, a P/E/G ratio of 4.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $210.64 and a two-hundred day simple moving average of $197.43.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 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 business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

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

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.