Cintas Co. (NASDAQ:CTAS) Stake Raised by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,908 shares of the business services provider’s stock after acquiring an additional 1,655 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Cintas were worth $10,605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Financial Management Professionals Inc. raised its holdings in Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during the period. Hollencrest Capital Management raised its holdings in Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 104 shares during the period. Sound Income Strategies LLC acquired a new stake in Cintas during the 4th quarter worth about $27,000. Addison Advisors LLC raised its holdings in Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after buying an additional 114 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new stake in Cintas during the 4th quarter worth about $31,000. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird dropped their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group dropped their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley upped their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Down 0.7 %

Shares of Cintas stock opened at $204.43 on Friday. The stock has a market capitalization of $82.50 billion, a P/E ratio of 49.29, a PEG ratio of 3.98 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. The stock has a 50 day moving average price of $196.53 and a two-hundred day moving average price of $208.23. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm 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 company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.61 earnings per share. Equities analysts expect that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is currently 37.59%.

Cintas Company 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.