Cintas Co. (NASDAQ:CTAS) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp increased its holdings in Cintas Co. (NASDAQ:CTAS) by 303.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,324 shares of the business services provider’s stock after purchasing an additional 11,525 shares during the quarter. Synovus Financial Corp’s holdings in Cintas were worth $3,155,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after buying an additional 10,910,285 shares during the period. FMR LLC grew its stake in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares during the period. Geode Capital Management LLC increased its holdings in Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in Cintas by 211.1% during the third quarter. Impax Asset Management Group plc now owns 2,429,272 shares of the business services provider’s stock valued at $499,236,000 after purchasing an additional 1,648,350 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CTAS shares. Royal Bank of Canada upped their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 26th. Truist Financial boosted their price objective on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Morgan Stanley raised their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday. Jefferies Financial Group dropped their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Finally, UBS Group increased their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. 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 company. According to MarketBeat, Cintas has a consensus rating of “Hold” and a consensus target price of $200.77.

Cintas Trading Down 0.2 %

NASDAQ CTAS opened at $211.22 on Friday. Cintas Co. has a 52 week low of $138.39 and a 52 week high of $228.12. The firm has a 50 day moving average of $215.13 and a two-hundred day moving average of $202.15. 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 stock has a market capitalization of $85.19 billion, a PE ratio of 53.34, a price-to-earnings-growth ratio of 4.15 and a beta of 1.33.

Cintas (NASDAQ:CTAS) last issued its 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. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, November 15th. Cintas’s payout ratio is 39.39%.

About Cintas

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.