Sumitomo Mitsui Trust Holdings Inc. Has $141.71 Million Stake in Cintas Co. (NASDAQ:CTAS)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Cintas Co. (NASDAQ:CTAS) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 235,138 shares of the business services provider’s stock after selling 1,703 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Cintas were worth $141,708,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Quarry LP lifted its holdings in shares of Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 42 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 19 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Cintas in the first quarter worth $36,000. Finally, Clearstead Advisors LLC acquired a new position in Cintas during the third quarter worth $39,000. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. JPMorgan Chase & Co. increased their price target on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Oppenheimer reiterated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus lifted their target price on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a report on Friday, December 22nd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Stock Performance

NASDAQ:CTAS opened at $664.72 on Tuesday. The stock’s 50-day moving average is $639.36 and its 200-day moving average is $583.58. The stock has a market cap of $67.38 billion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 3.91 and a beta of 1.27. Cintas Co. has a 1-year low of $438.59 and a 1-year high of $704.84. The company has a current ratio of 2.38, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.14 earnings per share. Equities research analysts anticipate that Cintas Co. will post 14.96 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

About Cintas

Cintas Corporation provides 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.