abrdn plc Boosts Position in Cintas Co. (NASDAQ:CTAS)

abrdn plc raised its stake in Cintas Co. (NASDAQ:CTAS) by 70.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 36,345 shares of the business services provider’s stock after buying an additional 14,975 shares during the period. abrdn plc’s holdings in Cintas were worth $21,904,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock valued at $493,331,000 after acquiring an additional 151,783 shares in the last quarter. American Century Companies Inc. increased its holdings in Cintas by 40.7% during the 3rd quarter. American Century Companies Inc. now owns 488,574 shares of the business services provider’s stock worth $235,009,000 after purchasing an additional 141,375 shares during the period. FMR LLC raised its position in Cintas by 5.5% during the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock valued at $1,131,615,000 after purchasing an additional 123,468 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Cintas by 257.8% in the 3rd quarter. Acadian Asset Management LLC now owns 145,520 shares of the business services provider’s stock worth $69,978,000 after buying an additional 104,854 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Cintas by 16.6% during the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after buying an additional 85,662 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTAS has been the subject of several recent research reports. Bank of America lifted their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Barclays increased their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Truist Financial boosted their price objective on shares of Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. The Goldman Sachs Group increased their target price on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Finally, UBS Group boosted their price target on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Trading Up 0.2 %

Cintas stock opened at $666.33 on Wednesday. Cintas Co. has a one year low of $438.59 and a one year high of $704.84. The stock has a market cap of $67.55 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 3.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The stock has a 50-day moving average of $645.27 and a two-hundred day moving average of $591.22.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $3.14 EPS. On average, research analysts anticipate that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Cintas Company Profile

Cintas Corporation provides 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.