Sovran Advisors LLC bought a new position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,670 shares of the business services provider's stock, valued at approximately $321,000.
Several other hedge funds have also modified their holdings of the company. Grove Bank & Trust increased its position in shares of Cintas by 1,340.0% in the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider's stock valued at $30,000 after buying an additional 134 shares in the last quarter. CX Institutional grew its stake in Cintas by 308.1% in the 3rd quarter. CX Institutional now owns 1,975 shares of the business services provider's stock valued at $407,000 after acquiring an additional 1,491 shares during the period. Wesbanco Bank Inc. grew its stake in Cintas by 283.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 1,338 shares of the business services provider's stock valued at $275,000 after acquiring an additional 989 shares during the period. Creative Planning lifted its holdings in Cintas by 356.6% during the third quarter. Creative Planning now owns 88,354 shares of the business services provider's stock valued at $18,190,000 after purchasing an additional 69,003 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Cintas by 308.3% during the third quarter. Swedbank AB now owns 221,336 shares of the business services provider's stock valued at $45,569,000 after purchasing an additional 167,123 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.
Cintas Trading Down 0.9 %
Shares of Cintas stock traded down $1.77 during mid-day trading on Friday, hitting $204.22. The stock had a trading volume of 1,062,557 shares, compared to its average volume of 1,480,585. The firm has a 50-day moving average of $197.04 and a two-hundred day moving average of $207.64. The firm has a market cap of $82.41 billion, a P/E ratio of 49.24, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. 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 Co. has a 12-month low of $152.77 and a 12-month high of $228.12.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 earnings per share. Sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.
Cintas Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas's dividend payout ratio is presently 37.61%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Finally, Truist Financial dropped their target price on shares of Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of "Hold" and a consensus price target of $198.46.
Read Our Latest Stock Analysis on CTAS
About Cintas
(
Free Report)
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.
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