Allstate Corp Takes $1.92 Million Position in Cintas Co. (NASDAQ:CTAS)

Allstate Corp acquired a new stake in Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,514 shares of the business services provider’s stock, valued at approximately $1,921,000.

Several other hedge funds have also recently bought and sold shares of the company. Guardian Wealth Advisors LLC raised its holdings in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after buying an additional 52 shares during the last quarter. MGB Wealth Management LLC raised its stake in Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after acquiring an additional 52 shares during the last quarter. TIAA Trust National Association lifted its position in Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after acquiring an additional 52 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of Cintas by 2.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 55 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Cintas by 3.3% in the fourth quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock valued at $311,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $203.22 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market cap of $82.01 billion, a PE ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a 1 year low of $162.16 and a 1 year high of $228.12. The stock has a fifty day moving average price of $201.01 and a 200 day moving average price of $208.92.

Cintas (NASDAQ:CTAS) last released its quarterly 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 return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $3.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CTAS shares. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday. Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday. Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Finally, Morgan Stanley increased their target price on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $210.58.

About Cintas

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.