JPMorgan Chase & Co. Has $393.18 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

JPMorgan Chase & Co. decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,152,044 shares of the business services provider’s stock after selling 70,483 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cintas were worth $393,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in Cintas by 178.3% during the third quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider’s stock worth $507,000 after purchasing an additional 1,576 shares during the period. Glenmede Trust Co. NA grew its stake in Cintas by 295.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,351 shares of the business services provider’s stock valued at $7,072,000 after buying an additional 25,675 shares during the last quarter. Fiduciary Trust Co raised its holdings in Cintas by 300.0% in the 3rd quarter. Fiduciary Trust Co now owns 6,616 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 4,962 shares during the period. Northwest & Ethical Investments L.P. lifted its position in Cintas by 230.9% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 7,120 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 4,968 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in Cintas by 280.4% during the third quarter. Hantz Financial Services Inc. now owns 40,395 shares of the business services provider’s stock valued at $8,317,000 after acquiring an additional 29,775 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $203.22 on Friday. The firm has a market cap of $82.01 billion, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm’s 50-day simple moving average is $201.01 and its 200-day simple moving average is $208.92. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. 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 (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.77%. Cintas’s dividend payout ratio is currently 36.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTAS. Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research note on Thursday. Morgan Stanley lifted their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group increased their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Finally, Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $210.58.

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.