Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Cintas Corporation $CTAS

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Cintas Corporation (NASDAQ:CTAS) by 4.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 834,142 shares of the business services provider’s stock after buying an additional 35,915 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Cintas were worth $154,216,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Richardson Financial Services Inc. increased its position in Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after purchasing an additional 54 shares during the last quarter. Mather Group LLC. increased its position in Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after purchasing an additional 59 shares during the last quarter. Woodward Diversified Capital LLC increased its position in Cintas by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock worth $242,000 after purchasing an additional 59 shares during the last quarter. Oakworth Capital Inc. increased its position in Cintas by 4.8% in the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock worth $267,000 after purchasing an additional 60 shares during the last quarter. Finally, Atlas Legacy Advisors LLC increased its position in Cintas by 4.1% in the third quarter. Atlas Legacy Advisors LLC now owns 1,560 shares of the business services provider’s stock worth $320,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.1%

Shares of CTAS opened at $169.36 on Thursday. Cintas Corporation has a twelve month low of $165.46 and a twelve month high of $229.24. The company has a market cap of $67.76 billion, a P/E ratio of 47.84, a P/E/G ratio of 2.98 and a beta of 0.96. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $182.40 and its 200-day simple moving average is $186.97.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio is presently 50.85%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research reports. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research report on Wednesday, March 11th. UBS Group restated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Citigroup reduced their price target on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $215.17.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.90% of the company’s stock.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.