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

AIA Group Ltd bought a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,300 shares of the business services provider’s stock, valued at approximately $2,430,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its stake in shares of Cintas by 164.1% in the 3rd quarter. Verition Fund Management LLC now owns 13,920 shares of the business services provider’s stock worth $2,866,000 after purchasing an additional 8,649 shares during the last quarter. Fred Alger Management LLC grew its position in Cintas by 286.6% in the third quarter. Fred Alger Management LLC now owns 2,424 shares of the business services provider’s stock worth $499,000 after buying an additional 1,797 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Cintas by 31.9% in the third quarter. Edgestream Partners L.P. now owns 3,248 shares of the business services provider’s stock valued at $669,000 after buying an additional 785 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Cintas by 7,951.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 196,143 shares of the business services provider’s stock valued at $40,382,000 after acquiring an additional 193,707 shares during the last quarter. Finally, Ascent Group LLC boosted its stake in shares of Cintas by 255.3% during the 3rd quarter. Ascent Group LLC now owns 27,672 shares of the business services provider’s stock worth $5,697,000 after acquiring an additional 19,884 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

CTAS opened at $205.53 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. 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 $201.15 and a 200 day moving average price of $204.61. The stock has a market cap of $82.94 billion, a price-to-earnings ratio of 49.56, 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, beating 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 analyst estimates of $2.60 billion. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.84 EPS. Analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CTAS shares. Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Morgan Stanley upped their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.