First Horizon Advisors Inc. Purchases 135 Shares of Cintas Co. (NASDAQ:CTAS)

First Horizon Advisors Inc. raised its position in shares of Cintas Co. (NASDAQ:CTAS) by 12.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,183 shares of the business services provider’s stock after buying an additional 135 shares during the quarter. First Horizon Advisors Inc.’s holdings in Cintas were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTAS. Hollencrest Capital Management grew its position in Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $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 valued at $27,000. Addison Advisors LLC increased its stake in shares of Cintas by 495.7% in the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares in the last quarter. Endeavor Private Wealth Inc. bought a new position in Cintas in the 4th quarter worth $31,000. Finally, Quintet Private Bank Europe S.A. raised its holdings in Cintas by 357.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 160 shares of the business services provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.2 %

Cintas stock opened at $205.82 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a market capitalization of $83.06 billion, a PE ratio of 49.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The business has a 50 day simple moving average of $196.31 and a 200-day simple moving average of $208.62. Cintas Co. has a 12 month low of $154.15 and a 12 month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results 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. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

Analyst Ratings Changes

Several research firms recently issued reports on CTAS. UBS Group reduced their target price on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group lowered their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Morgan Stanley upped their target price on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $199.79.

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.