Atria Wealth Solutions Inc. Sells 16,677 Shares of Cintas Co. (NASDAQ:CTAS)

Atria Wealth Solutions Inc. lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 44.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,675 shares of the business services provider's stock after selling 16,677 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cintas were worth $3,777,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Cintas by 210.5% during the 3rd quarter. Blue Trust Inc. now owns 1,273 shares of the business services provider's stock valued at $262,000 after buying an additional 863 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Cintas by 343.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider's stock valued at $22,976,000 after buying an additional 86,460 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Cintas by 300.0% during the 3rd quarter. Whittier Trust Co. now owns 3,332 shares of the business services provider's stock valued at $686,000 after buying an additional 2,499 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Cintas by 349.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,767 shares of the business services provider's stock valued at $1,187,000 after buying an additional 4,485 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Cintas by 356.1% during the 3rd quarter. Signaturefd LLC now owns 6,736 shares of the business services provider's stock valued at $1,387,000 after buying an additional 5,259 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CTAS. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Robert W. Baird reduced their target price on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average price target of $198.46.

Cintas Stock Performance

Cintas stock traded down $1.50 during mid-day trading on Friday, reaching $204.43. 2,302,558 shares of the stock traded hands, compared to its average volume of 1,724,269. The stock has a market capitalization of $82.50 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 4.02 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12. The business's 50-day moving average is $196.67 and its 200-day moving average is $207.94.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during 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%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.61 earnings per share. As a group, sell-side analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas's payout ratio is 37.61%.

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.