AIA Group Ltd purchased a new stake in Cintas Co. (NASDAQ:CTAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,300 shares of the business services provider's stock, valued at approximately $2,430,000.
A number of other large investors have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Norges Bank bought a new stake in Cintas in the 4th quarter valued at $877,216,000. Franklin Resources Inc. grew its holdings in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after buying an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after buying an additional 1,286,668 shares during the period. Institutional investors own 63.46% of the company's stock.
Analyst Upgrades and Downgrades
CTAS has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company increased their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Finally, UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $210.58.
Read Our Latest Analysis on Cintas
Cintas Price Performance
NASDAQ:CTAS traded up $0.80 during trading hours on Wednesday, hitting $208.67. The company's stock had a trading volume of 1,612,317 shares, compared to its average volume of 1,632,512. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a fifty day simple moving average of $201.48 and a 200-day simple moving average of $204.64. The company has a market capitalization of $84.21 billion, a P/E ratio of 50.31, a PEG ratio of 3.98 and a beta of 1.41.
Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.84 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.
Cintas Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, February 14th. Cintas's payout ratio is 36.11%.
About Cintas
(
Free Report)
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.
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