Cintas Co. (NASDAQ:CTAS) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 2,729.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 617,285 shares of the business services provider’s stock after purchasing an additional 595,469 shares during the period. Assenagon Asset Management S.A. owned approximately 0.15% of Cintas worth $112,778,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Financial Management Professionals Inc. boosted its position in shares of Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management lifted its stake in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Addison Advisors LLC boosted its holdings in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 114 shares during the period. Grove Bank & Trust grew its holdings in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 134 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Cintas by 321.1% in the third quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock worth $33,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 0.9 %

Shares of Cintas stock opened at $192.28 on Wednesday. The firm has a market cap of $77.55 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 4.16 and a beta of 1.33. Cintas Co. has a 52-week low of $146.29 and a 52-week high of $228.12. The company’s 50-day simple moving average is $206.61 and its 200-day simple moving average is $204.87. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its earnings results 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. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.61 EPS. As a group, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is currently 39.39%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CTAS shares. Truist Financial reduced their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock 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. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $198.46.

Cintas 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.