Assenagon Asset Management S.A. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 2,729.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 617,285 shares of the business services provider's stock after buying an additional 595,469 shares during the quarter. Assenagon Asset Management S.A. owned 0.15% of Cintas worth $112,778,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in shares of Cintas in the fourth quarter valued at $932,000. Define Financial LLC purchased a new stake in Cintas during the 4th quarter worth about $323,000. Accurate Wealth Management LLC raised its position in Cintas by 5.9% in the 4th quarter. Accurate Wealth Management LLC now owns 15,470 shares of the business services provider's stock valued at $2,929,000 after purchasing an additional 865 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of Cintas by 18.9% in the 4th quarter. Ignite Planners LLC now owns 1,855 shares of the business services provider's stock valued at $345,000 after buying an additional 295 shares during the period. Finally, Hummer Financial Advisory Services Inc grew its position in shares of Cintas by 300.0% during the fourth quarter. Hummer Financial Advisory Services Inc now owns 5,600 shares of the business services provider's stock worth $1,023,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on CTAS shares. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 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 objective on shares of Cintas in a report on Friday, December 20th. UBS Group lowered their target price on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Wells Fargo & Company cut their price target on Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research note on Friday, December 20th. Finally, Truist Financial lowered their price objective on Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $198.46.
Check Out Our Latest Stock Analysis on CTAS
Cintas Stock Performance
Shares of CTAS traded up $3.42 during mid-day trading on Wednesday, reaching $195.70. 1,466,784 shares of the company's stock were exchanged, compared to its average volume of 2,249,454. The business's fifty day simple moving average is $206.61 and its 200-day simple moving average is $204.87. The stock has a market capitalization of $78.97 billion, a PE ratio of 49.42, a price-to-earnings-growth ratio of 4.16 and a beta of 1.37. Cintas Co. has a 52-week low of $146.29 and a 52-week high of $228.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33.
Cintas (NASDAQ:CTAS - Get Free Report) last issued 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 16.80% and a return on equity of 39.56%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted $3.61 EPS. Cintas's revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.
Cintas Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 0.80%. The ex-dividend date is Friday, February 14th. Cintas's dividend payout ratio is presently 37.59%.
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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