OLD National Bancorp IN Has $4.87 Million Holdings in Cintas Co. (NASDAQ:CTAS)

OLD National Bancorp IN decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,672 shares of the business services provider’s stock after selling 96 shares during the quarter. OLD National Bancorp IN’s holdings in Cintas were worth $4,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CTAS. State Street Corp grew its holdings in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC grew its stake in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its holdings in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. lifted its stake in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after buying an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 buying an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTAS. Wells Fargo & Company cut their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. The Goldman Sachs Group lowered their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial reduced their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Up 1.8 %

Cintas stock opened at $202.18 on Friday. The company has a fifty day simple moving average of $201.96 and a 200 day simple moving average of $206.34. 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 $150.48 and a 1-year high of $228.12. The company has a market cap of $81.59 billion, a P/E ratio of 48.75, a price-to-earnings-growth ratio of 3.84 and a beta of 1.37.

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

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s payout ratio is presently 37.61%.

Cintas 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.