AIA Group Ltd Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

AIA Group Ltd increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,441 shares of the business services provider’s stock after purchasing an additional 446 shares during the quarter. AIA Group Ltd’s holdings in Cintas were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP grew its holdings in Cintas by 221.1% in the 1st quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after buying an additional 42 shares during the period. Janiczek Wealth Management LLC grew its holdings in Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after buying an additional 26 shares during the period. Catalyst Capital Advisors LLC grew its holdings in Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after buying an additional 19 shares during the period. Sunbelt Securities Inc. purchased a new stake in Cintas in the 1st quarter valued at about $36,000. Finally, Clearstead Advisors LLC purchased a new stake in Cintas in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTAS shares. JPMorgan Chase & Co. lifted their price objective on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. The Goldman Sachs Group lifted their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Barclays lifted their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Truist Financial lifted their price objective on Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, Robert W. Baird lifted their price objective on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Stock Performance

Shares of CTAS opened at $662.44 on Friday. The business’s 50 day moving average is $642.18 and its two-hundred day moving average is $586.01. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84. The firm has a market cap of $67.15 billion, a price-to-earnings ratio of 45.75, a PEG ratio of 3.91 and a beta of 1.27. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the company posted $3.14 EPS. Cintas’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts forecast that Cintas Co. will post 14.96 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

Cintas Company Profile

Cintas Corporation provides 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.