Meiji Yasuda Life Insurance Co decreased its position in Cintas Co. (NASDAQ:CTAS) by 28.9% during the fourth quarter, as revealed in its recent Form 13F filing with the SEC. The institutional investor held 6,109 shares of the business services provider’s stock after selling 2,487 shares during the quarter. At the end of the reporting period, Meiji Yasuda Life Insurance Co’s holdings in Cintas were valued at $1,116,000.
Other hedge funds have also adjusted their holdings of CTAS. China Universal Asset Management Co. Ltd. increased its position in Cintas by 28.4% during the fourth quarter, now owning 6,563 shares valued at $1,199,000. KMG Fiduciary Partners LLC boosted its holdings by 121.8%, owning 11,545 shares worth $2,109,000. JPMorgan Chase & Co. significantly increased its position by 137.5% in the third quarter, now holding 2,222,527 shares worth $457,574,000. Annex Advisory Services LLC grew its stake by 1.6%, owning 127,441 shares valued at $23,283,000. LVM Capital Management Ltd. MI increased its position by 292.7%, now holding 5,482 shares worth $1,002,000.
Cintas Stock Performance
Shares of Cintas stock opened at $211.55 on Friday. The company has a market capitalization of $85.42 billion, with a PE ratio of 51.01 and a beta of 1.20. Cintas Co. has a twelve-month low of $164.93 and a twelve-month high of $228.12. The business reported $1.13 earnings per share for the quarter, exceeding the consensus estimate of $1.05. Cintas declared a quarterly dividend, which will be paid on Friday, June 13th, with investors of record on Thursday, May 15th receiving $0.39 per share.
Analyst Ratings and Insider Activity
Several equities research analysts have updated their ratings on Cintas. Robert W. Baird raised its price target from $200.00 to $227.00 with a ‘neutral’ rating. UBS Group boosted its target price from $218.00 to $240.00 with a ‘buy’ rating. Insider activity included Director Ronald W. Tysoe selling 8,521 shares and COO Jim Rozakis selling 2,000 shares.
