Renasant Bank Sells 161 Shares of Cintas Co. (NASDAQ:CTAS)

Renasant Bank reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,564 shares of the business services provider’s stock after selling 161 shares during the period. Renasant Bank’s holdings in Cintas were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTAS. China Universal Asset Management Co. Ltd. grew its position in Cintas by 28.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after acquiring an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after purchasing an additional 6,341 shares during the period. Wellington Management Group LLP increased its position in shares of Cintas by 211.7% during the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock valued at $160,357,000 after purchasing an additional 529,005 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock valued at $457,574,000 after buying an additional 1,286,668 shares during the period. Finally, Annex Advisory Services LLC lifted its position in Cintas by 1.6% in the fourth quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Down 0.8 %

Shares of NASDAQ CTAS opened at $190.58 on Friday. Cintas Co. has a 12-month low of $155.51 and a 12-month high of $228.12. The stock’s fifty day simple moving average is $199.88 and its two-hundred day simple moving average is $209.11. The stock has a market capitalization of $76.91 billion, a PE ratio of 45.95, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 earnings per share. As a group, analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.82%. Cintas’s dividend payout ratio (DPR) is 37.59%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTAS shares. UBS Group dropped their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. The Goldman Sachs Group reduced their target price on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial lowered their target price on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $199.79.

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.