Nicholas Hoffman & Company LLC. Has $570,000 Stake in Cintas Co. (NASDAQ:CTAS)

Nicholas Hoffman & Company LLC. grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 300.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,769 shares of the business services provider’s stock after buying an additional 2,077 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Cintas were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC raised its position in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after acquiring an additional 14 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after acquiring an additional 14 shares in the last quarter. Field & Main Bank increased its holdings in shares of Cintas by 25.0% in the second quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after acquiring an additional 15 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Cintas by 3.7% during the second quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after buying an additional 16 shares during the period. Finally, TIAA Trust National Association boosted its position in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after buying an additional 16 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $207.85 on Thursday. The firm has a market cap of $21.09 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. Cintas Co. has a 1-year low of $125.62 and a 1-year high of $215.37. The business’s 50 day moving average is $217.38 and its 200-day moving average is $191.29.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company earned $3.70 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities research analysts predict that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has approved a share buyback program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on CTAS. Baird R W cut Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Truist Financial increased their price target on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Stifel Nicolaus increased their price target on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research report on Friday, July 19th. Barclays increased their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

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.