Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 14.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 254,332 shares of the business services provider’s stock after buying an additional 31,892 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cintas were worth $46,466,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation N.A. grew its stake in Cintas by 52.5% during the 4th quarter. Zions Bancorporation N.A. now owns 13,047 shares of the business services provider’s stock worth $2,384,000 after buying an additional 4,489 shares during the last quarter. TIAA Trust National Association increased its stake in Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock valued at $983,000 after buying an additional 52 shares during the period. EntryPoint Capital LLC increased its stake in shares of Cintas by 26.8% during the fourth quarter. EntryPoint Capital LLC now owns 1,443 shares of the business services provider’s stock worth $264,000 after acquiring an additional 305 shares during the period. Zevenbergen Capital Investments LLC increased its position in Cintas by 1.2% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 20,640 shares of the business services provider’s stock worth $3,771,000 after purchasing an additional 240 shares during the period. Finally, Corebridge Financial Inc. raised its position in Cintas by 5.7% in the fourth quarter. Corebridge Financial Inc. now owns 133,265 shares of the business services provider’s stock worth $24,348,000 after acquiring an additional 7,138 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $193.46 on Wednesday. The firm has a market cap of $78.07 billion, a price-to-earnings ratio of 46.64, a PEG ratio of 3.98 and a beta of 1.41. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business’s 50 day moving average is $200.57 and its two-hundred day moving average is $208.92. Cintas Co. has a 52-week low of $158.10 and a 52-week high of $228.12.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Analyst Ratings Changes

A number of research analysts have issued reports on CTAS shares. Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the stock 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 given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $199.79.

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.