Corebridge Financial Inc. Raises Stock Position in Cintas Co. (NASDAQ:CTAS)

Corebridge Financial Inc. raised its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,265 shares of the business services provider's stock after purchasing an additional 7,138 shares during the period. Corebridge Financial Inc.'s holdings in Cintas were worth $24,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in Cintas in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new stake in Cintas during the fourth quarter valued at $31,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a "sell" rating and a $161.00 target price for the company. The Goldman Sachs Group increased their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday. Finally, Robert W. Baird lifted their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $207.57.

Remove Ads

Cintas Stock Up 0.9 %

Shares of CTAS traded up $1.86 during midday trading on Thursday, reaching $206.57. 968,981 shares of the stock were exchanged, compared to its average volume of 1,540,935. The company has a market capitalization of $83.36 billion, a P/E ratio of 49.81, a PEG 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 Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The company's 50 day moving average is $200.75 and its two-hundred day moving average is $208.89.

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

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas's dividend payout ratio (DPR) is presently 37.59%.

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.