1,783 Shares in Cintas Co. (NASDAQ:CTAS) Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,783 shares of the business services provider's stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. Geode Capital Management LLC lifted its holdings in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock valued at $1,693,654,000 after buying an additional 6,235,052 shares during the period. Norges Bank bought a new stake in Cintas during the fourth quarter valued at $877,216,000. Franklin Resources Inc. grew its holdings in Cintas by 264.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock worth $693,503,000 after acquiring an additional 2,379,932 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after acquiring an additional 1,286,668 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 7.3 %

CTAS stock traded up $13.88 during mid-day trading on Wednesday, reaching $203.99. 4,052,083 shares of the company traded hands, compared to its average volume of 1,681,460. The stock has a market cap of $82.32 billion, a price-to-earnings ratio of 49.18, a P/E/G ratio of 3.98 and a beta of 1.20. Cintas Co. has a fifty-two week low of $162.16 and a fifty-two week high of $228.12. The firm's 50 day moving average price is $200.97 and its 200 day moving average price is $204.27. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its 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 company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.60 billion. During the same quarter in the previous year, the firm earned $3.84 earnings per share. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

Insiders Place Their Bets

In other news, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTAS shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $210.58.

Cintas 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.