Atria Investments Inc Sells 598 Shares of Cintas Co. (NASDAQ:CTAS)

Atria Investments Inc decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,723 shares of the business services provider’s stock after selling 598 shares during the period. Atria Investments Inc’s holdings in Cintas were worth $3,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management raised its stake in Cintas by 433.3% in 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. Addison Advisors LLC grew its position in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of Cintas in the fourth quarter valued at approximately $27,000. Endeavor Private Wealth Inc. acquired a new position in shares of Cintas in the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas in the fourth quarter valued at approximately $34,000. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have 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 on the stock in a research report on Friday, December 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas 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 on the stock in a research report on Friday, December 20th. Citigroup started coverage on Cintas in a research report on Monday, February 24th. They issued a “sell” rating and a $161.00 target price on the stock. Finally, Morgan Stanley increased their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $199.79.

Cintas Stock Up 1.2 %

Shares of CTAS opened at $203.06 on Friday. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12. The stock has a market capitalization of $81.94 billion, a price-to-earnings ratio of 48.96, a PEG ratio of 3.98 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a fifty day moving average of $198.90 and a 200-day moving average of $209.12.

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 the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion during 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%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $3.61 EPS. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal 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 issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s payout ratio is presently 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.