Cintas Co. (NASDAQ:CTAS) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 311.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 436 shares of the business services provider’s stock after purchasing an additional 330 shares during the period. Loomis Sayles & Co. L P’s holdings in Cintas were worth $90,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. DRW Securities LLC acquired a new position in shares of Cintas during the third quarter worth $979,000. Independent Advisor Alliance increased its position in shares of Cintas by 301.7% in the 3rd quarter. Independent Advisor Alliance now owns 76,937 shares of the business services provider’s stock valued at $15,840,000 after acquiring an additional 57,782 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of Cintas by 588.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 27,679 shares of the business services provider’s stock valued at $5,698,000 after acquiring an additional 23,657 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Cintas by 492.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,761 shares of the business services provider’s stock valued at $3,657,000 after acquiring an additional 14,761 shares during the period. Finally, Bank of Hawaii increased its position in shares of Cintas by 300.0% in the 3rd quarter. Bank of Hawaii now owns 1,800 shares of the business services provider’s stock valued at $371,000 after acquiring an additional 1,350 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial upped their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada upped their target price on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Morgan Stanley upped their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Barclays upped their price target on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 1.1 %

CTAS stock opened at $224.05 on Friday. The company’s 50-day simple moving average is $212.33 and its 200-day simple moving average is $198.50. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52-week low of $136.87 and a 52-week high of $228.12. The firm has a market cap of $90.36 billion, a P/E ratio of 56.58, a PEG ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. As a group, equities analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

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.