Allianz SE Takes $15.28 Million Position in Cintas Co. (NASDAQ:CTAS)

Allianz SE purchased a new stake in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, HoldingsChannel reports. The fund purchased 83,168 shares of the business services provider’s stock, valued at approximately $15,276,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the fourth quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Cintas in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new stake in Cintas in the fourth quarter valued at $31,000. IAG Wealth Partners LLC boosted its stake in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several research analyst reports. Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective for the company. Truist Financial increased their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Thursday. Morgan Stanley raised their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $210.58.

Cintas Price Performance

Shares of CTAS opened at $203.22 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company has a market capitalization of $82.01 billion, a price-to-earnings ratio of 49.00, a P/E/G ratio of 3.98 and a beta of 1.41. The business’s 50-day moving average is $201.01 and its 200-day moving average is $208.88. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

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

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.