MetLife Investment Management LLC Boosts Stake in Cintas Co. (NASDAQ:CTAS)

MetLife Investment Management LLC raised its holdings in Cintas Co. (NASDAQ:CTAS) by 288.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 104,086 shares of the business services provider’s stock after acquiring an additional 77,272 shares during the quarter. MetLife Investment Management LLC’s holdings in Cintas were worth $21,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LGT Financial Advisors LLC increased its holdings in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new position in Cintas in the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC bought a new stake in Cintas in the first quarter valued at approximately $29,000. Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. Finally, Crewe Advisors LLC grew its holdings in shares of Cintas by 133.3% in the second quarter. Crewe Advisors LLC now owns 56 shares of the business services provider’s stock worth $39,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company upped their price objective on shares of Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird boosted their price target on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Finally, Truist Financial lifted their price target on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $224.05 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The firm has a market cap of $90.36 billion, a P/E ratio of 56.58, a PEG ratio of 4.41 and a beta of 1.32. The company has a 50 day moving average of $211.92 and a 200 day moving average of $198.32. Cintas Co. has a twelve month low of $136.87 and a twelve month high of $228.12.

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

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas’s dividend payout ratio is currently 39.39%.

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.