Federated Hermes Inc. Buys 14,917 Shares of Cintas Co. (NASDAQ:CTAS)

Federated Hermes Inc. boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 19.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,434 shares of the business services provider’s stock after purchasing an additional 14,917 shares during the period. Federated Hermes Inc.’s holdings in Cintas were worth $55,706,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Simplicity Solutions LLC boosted its holdings in shares of Cintas by 117.7% in the 4th quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock valued at $1,943,000 after buying an additional 1,743 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Cintas in the fourth quarter valued at approximately $8,015,000. Comerica Bank bought a new position in Cintas during the 3rd quarter worth $10,866,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cintas by 91.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after buying an additional 23,197 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Cintas by 16.6% during the fourth quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Barclays increased their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on shares of Cintas from $540.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, December 22nd. Oppenheimer reissued a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Finally, Royal Bank of Canada upped their price target on shares of Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $661.21.

Cintas Stock Down 0.2 %

Shares of CTAS opened at $661.29 on Friday. The stock has a market capitalization of $67.03 billion, a price-to-earnings ratio of 45.67, a PEG ratio of 3.88 and a beta of 1.27. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84. 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 fifty day moving average of $643.04 and a 200-day moving average of $587.23.

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

Cintas Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.82%. 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.