Concurrent Investment Advisors LLC Has $1.97 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Concurrent Investment Advisors LLC lifted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 65.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,768 shares of the business services provider’s stock after purchasing an additional 4,274 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cintas were worth $1,967,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Financial Management Professionals Inc. boosted its holdings in shares of 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 boosted its holdings in shares of 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 bought a new stake in shares of Cintas during the 4th quarter worth $27,000. Addison Advisors LLC boosted its holdings in shares of 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. bought a new stake in shares of Cintas during the 4th quarter worth $31,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading 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 price-to-earnings-growth ratio of 4.02 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 company has a 50-day simple moving average of $196.53 and a 200 day simple moving average of $208.08. Cintas Co. has a 12-month low of $154.15 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 net margin of 17.23% and a return on equity of 40.62%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.61 EPS. Research analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is presently 37.61%.

Analysts Set New Price Targets

Several analysts recently issued reports on CTAS shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. Truist Financial reduced their price target 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. Morgan Stanley increased their price target on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Finally, Robert W. Baird reduced their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” 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 given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $198.46.

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.