Mirae Asset Global Investments Co. Ltd. Buys 34,126 Shares of Cintas Corporation $CTAS

Key Points

• Mirae Asset Global Investments raised its stake in Cintas by 17.8%, buying 34,126 shares to own 225,624 shares worth about $42.43 million (roughly 0.06% of the company) at the end of the quarter.
• Cintas reported quarterly EPS of $1.24 (in line with estimates) and revenue of $2.84 billion (+8.9% YoY), and declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield) payable June 15.
• Analyst sentiment is an overall "Hold" with an average price target of $215.17; the coverage breakdown is 1 Strong Buy, 5 Buy, 7 Hold and 1 Sell.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,624 shares of the business services provider's stock after purchasing an additional 34,126 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of Cintas worth $42,433,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CTAS. Triumph Capital Management bought a new stake in shares of Cintas during the 3rd quarter worth $29,000. Alpine Bank Wealth Management raised its stake in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after purchasing an additional 153 shares during the period. Aventura Private Wealth LLC bought a new stake in shares of Cintas during the 4th quarter worth $34,000. WPG Advisers LLC raised its stake in shares of Cintas by 90.0% during the 3rd quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock worth $35,000 after purchasing an additional 81 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in shares of Cintas by 61.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 189 shares of the business services provider's stock worth $36,000 after purchasing an additional 72 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Argus upgraded Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. UBS Group reiterated a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. Stifel Nicolaus lowered their target price on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $206.00 target price on shares of Cintas in a research note on Friday, December 19th. Finally, Bank of America initiated coverage on Cintas in a research note on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $215.17.

Cintas Price Performance

CTAS opened at $179.17 on Friday. The company has a market capitalization of $71.68 billion, a price-to-earnings ratio of 50.61, a PEG ratio of 3.18 and a beta of 1.01. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $187.33 and a 200-day moving average price of $188.69. Cintas Corporation has a twelve month low of $165.60 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. Equities analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas's dividend payout ratio is currently 50.85%.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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