Russell Investments Group Ltd. Purchases 44,857 Shares of Cintas Co. (NASDAQ:CTAS)

Russell Investments Group Ltd. grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 11.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 437,402 shares of the business services provider’s stock after acquiring an additional 44,857 shares during the period. Russell Investments Group Ltd.’s holdings in Cintas were worth $80,111,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Aviva PLC boosted its stake in Cintas by 14.1% in the fourth quarter. Aviva PLC now owns 217,986 shares of the business services provider’s stock worth $39,826,000 after buying an additional 27,021 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Cintas in the 4th quarter worth approximately $22,566,000. Prudential PLC boosted its stake in shares of Cintas by 135.1% in the 4th quarter. Prudential PLC now owns 16,952 shares of the business services provider’s stock valued at $3,097,000 after purchasing an additional 9,741 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Cintas by 41.1% during the 4th quarter. Landscape Capital Management L.L.C. now owns 10,231 shares of the business services provider’s stock valued at $1,869,000 after purchasing an additional 2,978 shares during the last quarter. Finally, PAX Financial Group LLC raised its position in Cintas by 15.2% in the 4th quarter. PAX Financial Group LLC now owns 4,164 shares of the business services provider’s stock worth $761,000 after purchasing an additional 549 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTAS shares. Citigroup started coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. The Goldman Sachs Group raised their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Finally, Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of “Hold” and an average target price of $210.58.

Cintas Trading Down 7.1 %

Shares of CTAS opened at $190.33 on Friday. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The firm has a market capitalization of $76.81 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 3.98 and a beta of 1.41. The firm’s 50-day moving average price is $201.48 and its 200-day moving average price is $204.55. 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 (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.84 EPS. Sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

About Cintas

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.