Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,159 shares of the business services provider’s stock, valued at approximately $2,587,000.

A number of other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after buying an additional 6,341 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after buying an additional 529,005 shares during the period. JPMorgan Chase & Co. grew its position in shares of Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Finally, Annex Advisory Services LLC raised its stake in Cintas by 1.6% during the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after acquiring an additional 1,988 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CTAS shares. Citigroup assumed coverage on Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price for the company. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Finally, Morgan Stanley boosted their target price on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average target price of $199.79.

Cintas Price Performance

NASDAQ CTAS opened at $195.17 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. Cintas Co. has a 1 year low of $155.89 and a 1 year high of $228.12. The company has a market cap of $78.76 billion, a PE ratio of 47.06, a PEG ratio of 3.98 and a beta of 1.41. The stock’s 50-day moving average price is $200.22 and its two-hundred day moving average price is $209.17.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s dividend payout ratio is 37.59%.

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.