Assenagon Asset Management S.A. Cuts Position in Cintas Corporation $CTAS

Assenagon Asset Management S.A. trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 43.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,934 shares of the business services provider’s stock after selling 336,128 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Cintas worth $83,491,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTAS. Brighton Jones LLC boosted its position in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares during the period. Sivia Capital Partners LLC increased its holdings in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Cintas in the second quarter valued at about $130,000. Charles Schwab Investment Management Inc. raised its position in Cintas by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,999,702 shares of the business services provider’s stock valued at $445,673,000 after purchasing an additional 21,347 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Cintas by 1.6% during the second quarter. Coldstream Capital Management Inc. now owns 5,965 shares of the business services provider’s stock worth $1,329,000 after purchasing an additional 95 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Down 1.7%

NASDAQ:CTAS opened at $178.13 on Wednesday. The stock has a market cap of $71.23 billion, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. Cintas Corporation has a one year low of $177.53 and a one year high of $229.24. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.49 and a current ratio of 1.71. The business’s 50-day simple moving average is $194.42 and its 200 day simple moving average is $192.08.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, February 13th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is currently 52.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CTAS shares. Morgan Stanley decreased their target price on Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings raised Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Argus upgraded Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Citigroup reiterated a “sell” rating and set a $181.00 price objective (up from $176.00) on shares of Cintas in a research note on Monday, December 22nd. Finally, UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and an average target price of $220.25.

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.