AIA Group Ltd Takes $2.43 Million Position in Cintas Co. (NASDAQ:CTAS)

AIA Group Ltd bought a new position in shares of Cintas Co. (NASDAQ:CTAS) in the fourth quarter, Holdings Channel reports. The firm bought 13,300 shares of the business services provider’s stock, valued at approximately $2,430,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new stake in shares of Cintas during the 4th quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in Cintas during the 4th quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Cintas in the fourth quarter valued at about $31,000. IAG Wealth Partners LLC increased its stake in shares of Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas during the 4th quarter worth about $34,000. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTAS. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. The Goldman Sachs Group increased their price target on shares of Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company boosted their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a report on Thursday, March 27th. Finally, Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Two investment 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $210.58.

Cintas Trading Up 1.1 %

CTAS stock opened at $205.53 on Tuesday. The business has a fifty day moving average of $201.15 and a 200-day moving average of $204.61. The company has a market cap of $82.94 billion, a P/E ratio of 49.56, a PEG ratio of 3.98 and a beta of 1.41. Cintas Co. has a twelve month low of $162.16 and a twelve month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.60 billion. During the same quarter last year, the firm earned $3.84 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 36.11%.

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.