Chevy Chase Trust Holdings LLC Grows Stake in Cintas Co. (NASDAQ:CTAS)

Chevy Chase Trust Holdings LLC lifted its stake in Cintas Co. (NASDAQ:CTAS) by 289.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,312 shares of the business services provider’s stock after buying an additional 137,044 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Cintas were worth $37,946,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CTAS. FMR LLC boosted its holdings in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after acquiring an additional 6,571,128 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cintas by 308.2% during 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 worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock worth $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Cintas by 293.2% in the third 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cintas by 258.1% during 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 in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Down 1.4 %

NASDAQ CTAS opened at $222.64 on Tuesday. 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 50-day simple moving average of $212.76 and a 200-day simple moving average of $199.24. The firm has a market capitalization of $89.79 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 4.45 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 earnings per share. On average, equities analysts forecast that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend on an annualized basis and a dividend yield of 0.70%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTAS. Morgan Stanley boosted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Barclays boosted their price target on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Jefferies Financial Group lowered their price objective on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Truist Financial increased their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.