Cintas Co. (NASDAQ:CTAS) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 305.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,310 shares of the business services provider’s stock after buying an additional 7,012 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cintas were worth $1,917,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTAS. Impax Asset Management Group plc increased its position in shares of Cintas by 211.1% in the third 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. King Luther Capital Management Corp increased its holdings in Cintas by 293.2% during 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 acquiring an additional 1,419,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cintas by 258.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,894,922 shares of the business services provider’s stock worth $390,127,000 after acquiring an additional 1,365,825 shares during the last quarter. Alecta Tjanstepension Omsesidigt raised its position in shares of Cintas by 300.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock worth $335,552,000 after purchasing an additional 1,222,500 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in 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 buying an additional 964,698 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CTAS. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial upped their target price on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Jefferies Financial Group cut their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a report on Thursday, September 26th. The Goldman Sachs Group lifted their price objective on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 1.0 %

Shares of NASDAQ CTAS opened at $223.90 on Tuesday. The stock has a market capitalization of $90.30 billion, a P/E ratio of 56.54, a PEG ratio of 4.37 and a beta of 1.32. The stock’s 50 day moving average price is $211.02 and its two-hundred day moving average price is $197.78. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $227.35.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data 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. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business posted $3.70 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid 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 yield of 0.70%. Cintas’s dividend payout ratio (DPR) is 39.39%.

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.