10,514 Shares in Cintas Co. (NASDAQ:CTAS) Purchased by Allstate Corp

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

A number of other large investors also recently bought and sold shares of CTAS. Sound Income Strategies LLC purchased a new position in shares of Cintas during the 4th quarter valued at approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Cintas during the fourth quarter valued at $29,000. Endeavor Private Wealth Inc. purchased a new position in Cintas in the fourth quarter valued at $31,000. IAG Wealth Partners LLC raised its position 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 acquiring an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Cintas during the 4th quarter worth about $34,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Cintas stock opened at $203.22 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $201.01 and a 200 day moving average price of $208.92. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The stock has a market cap of $82.01 billion, a P/E ratio of 49.00, a PEG ratio of 3.98 and a beta of 1.41.

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

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is presently 36.11%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTAS. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday. Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday. The Goldman Sachs Group lifted their target price on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $210.58.

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.