Corebridge Financial Inc. Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Corebridge Financial Inc. increased its position in Cintas Co. (NASDAQ:CTAS) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,265 shares of the business services provider’s stock after buying an additional 7,138 shares during the period. Corebridge Financial Inc.’s holdings in Cintas were worth $24,348,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its position in shares of Cintas by 331.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,970 shares of the business services provider’s stock valued at $4,317,000 after acquiring an additional 16,107 shares during the last quarter. Avior Wealth Management LLC raised its stake in Cintas by 304.1% during the third quarter. Avior Wealth Management LLC now owns 299 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 225 shares in the last quarter. Raymond James Trust N.A. raised its stake in Cintas by 263.5% during the third quarter. Raymond James Trust N.A. now owns 7,964 shares of the business services provider’s stock valued at $1,640,000 after purchasing an additional 5,773 shares in the last quarter. Icon Wealth Advisors LLC lifted its position in Cintas by 1,182.4% during the third quarter. Icon Wealth Advisors LLC now owns 2,039 shares of the business services provider’s stock valued at $420,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its stake in shares of Cintas by 300.5% in the 3rd quarter. Nicolet Advisory Services LLC now owns 3,108 shares of the business services provider’s stock worth $636,000 after buying an additional 2,332 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Cintas stock opened at $191.17 on Monday. 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 stock has a market cap of $77.15 billion, a price-to-earnings ratio of 46.09, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The firm has a 50-day moving average of $200.46 and a two-hundred day moving average of $208.97. Cintas Co. has a 1 year low of $158.10 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. Cintas’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.61 earnings per share. On average, research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, February 14th. Cintas’s payout ratio is 37.59%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Truist Financial lowered their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, UBS Group dropped their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Company 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.