Allspring Global Investments Holdings LLC Has $29.19 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,319 shares of the business services provider's stock after buying an additional 48,720 shares during the period. Allspring Global Investments Holdings LLC's holdings in Cintas were worth $29,192,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its holdings in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management increased its position in Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock worth $26,000 after buying an additional 104 shares during the period. Addison Advisors LLC increased its position in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider's stock worth $28,000 after buying an additional 114 shares during the period. Sound Income Strategies LLC bought a new stake in Cintas in the fourth quarter valued at $27,000. Finally, Capital Advisors Ltd. LLC lifted its stake in Cintas by 321.1% in the third quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider's stock valued at $33,000 after buying an additional 122 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTAS. Truist Financial dropped their price objective on shares of Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. 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, December 12th. Finally, The Goldman Sachs Group cut their target price on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cintas currently has an average rating of "Hold" and a consensus price target of $198.46.

Cintas Price Performance

NASDAQ:CTAS traded up $4.49 during mid-day trading on Wednesday, reaching $208.23. 1,569,410 shares of the stock were exchanged, compared to its average volume of 1,688,472. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $196.84 and a 200 day moving average price of $207.96. Cintas Co. has a 1-year low of $152.77 and a 1-year high of $228.12. The firm has a market capitalization of $84.03 billion, a PE ratio of 50.21, a PEG ratio of 3.94 and a beta of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter in the previous year, the company posted $3.61 EPS. The business's revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, February 14th. Cintas's dividend payout ratio is presently 37.61%.

Cintas Company Profile

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.