Bank of New York Mellon Corp Has $444.53 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Bank of New York Mellon Corp lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 2.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,433,111 shares of the business services provider’s stock after selling 59,991 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cintas were worth $444,529,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC raised its stake in Cintas by 297.3% during the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. grew its position in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock worth $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after purchasing an additional 1,904,926 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Up 1.2 %

Shares of NASDAQ:CTAS opened at $205.82 on Wednesday. The company’s fifty day moving average is $196.31 and its 200-day moving average is $208.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The company has a market capitalization of $83.06 billion, a PE ratio of 49.63, a P/E/G ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.61 earnings per share. Equities research analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 37.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTAS. Citigroup began coverage on shares of Cintas in a research report on Monday. They set a “sell” rating and a $161.00 price objective for the company. Robert W. Baird cut their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. UBS Group reduced their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial lowered their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas 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.