Sumitomo Mitsui Trust Group Inc. Has $172.26 Million Stock Position in Cintas Corporation $CTAS

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 915,944 shares of the business services provider’s stock after selling 12,251 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Cintas were worth $172,262,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Cintas by 2.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock worth $20,501,000 after acquiring an additional 2,628 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock worth $84,909,000 after acquiring an additional 10,249 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Cintas by 1.5% in the third quarter. Vanguard Group Inc. now owns 38,948,620 shares of the business services provider’s stock worth $7,994,594,000 after acquiring an additional 564,487 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Cintas in the fourth quarter worth approximately $15,736,000. Finally, Prana Capital Management LP bought a new position in Cintas in the third quarter worth approximately $14,312,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $174.93 on Monday. Cintas Corporation has a twelve month low of $165.60 and a twelve month high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $188.91 and its 200-day moving average is $189.41. The firm has a market capitalization of $69.99 billion, a PE ratio of 49.42, a P/E/G ratio of 3.13 and a beta of 1.01.

Cintas (NASDAQ:CTAS – Get Free Report) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Friday, February 13th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTAS shares. Weiss Ratings lowered Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and increased their price target for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. Argus upgraded Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Citigroup cut their price target on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. Finally, Morgan Stanley cut their price target on Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $215.17.

Get Our Latest Analysis on CTAS

About Cintas

(Free Report)

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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