Allstate Corp Takes Position in Cintas Co. (NASDAQ:CTAS)

Allstate Corp purchased a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,514 shares of the business services provider's stock, valued at approximately $1,921,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTAS. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cintas by 28.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock worth $1,199,000 after purchasing an additional 1,450 shares during the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Cintas by 121.8% during the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider's stock valued at $2,109,000 after buying an additional 6,341 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider's stock valued at $160,357,000 after buying an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock valued at $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in shares of Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider's stock worth $23,283,000 after buying an additional 1,988 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on CTAS shares. UBS Group boosted their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. The Goldman Sachs Group boosted their target price on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Citigroup assumed coverage on Cintas in a research note on Monday, February 24th. They issued a "sell" rating and a $161.00 price target for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of "Hold" and an average price target of $210.58.

Cintas Price Performance

NASDAQ:CTAS traded down $2.09 during trading hours on Thursday, hitting $206.58. 701,044 shares of the stock were exchanged, compared to its average volume of 1,628,998. The firm's fifty day moving average price is $201.48 and its 200 day moving average price is $204.64. Cintas Co. has a 52-week low of $162.16 and a 52-week high of $228.12. The company has a market cap of $83.36 billion, a P/E ratio of 49.81, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the previous year, the company posted $3.84 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas's dividend payout ratio (DPR) is 36.11%.

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.