Atria Investments Inc Has $3.97 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Atria Investments Inc trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 2.7% during the fourth quarter, Holdings Channel reports. The firm owned 21,723 shares of the business services provider’s stock after selling 598 shares during the quarter. Atria Investments Inc’s holdings in Cintas were worth $3,969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of Cintas by 299.3% in the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC lifted its stake in shares of Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cintas by 309.7% in the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. lifted its stake in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company decreased their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Truist Financial decreased their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup assumed coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price for the company. Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group decreased their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Cintas stock opened at $203.06 on Friday. Cintas Co. has a 12 month low of $154.15 and a 12 month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The business’s 50 day simple moving average is $198.90 and its 200 day simple moving average is $209.12. The company has a market cap of $81.94 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the business earned $3.61 earnings per share. Cintas’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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 is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.77%. Cintas’s dividend payout ratio is currently 37.59%.

About Cintas

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.