Sumitomo Mitsui Trust Group Inc. Has $183.11 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 291.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889,402 shares of the business services provider’s stock after buying an additional 662,431 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cintas were worth $183,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its holdings in Cintas by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Cintas by 0.5% during the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares in the last quarter. Field & Main Bank raised its position in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after buying an additional 15 shares during the last quarter. Drive Wealth Management LLC lifted its stake in Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after acquiring an additional 16 shares in the last quarter. Finally, TIAA Trust National Association boosted its holdings in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. UBS Group boosted their target price on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group upped their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada lifted their price target on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Finally, Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas Trading Up 0.3 %

NASDAQ:CTAS opened at $224.73 on Wednesday. Cintas Co. has a 1 year low of $132.65 and a 1 year high of $227.35. The stock’s fifty day moving average price is $219.80 and its two-hundred day moving average price is $194.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The company has a market cap of $90.63 billion, a P/E ratio of 56.75, a P/E/G ratio of 4.45 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $3.70 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts expect that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Cintas declared that its board has approved a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.