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

Renasant Bank trimmed its holdings in Cintas Co. (NASDAQ:CTAS) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,564 shares of the business services provider’s stock after selling 161 shares during the quarter. Renasant Bank’s holdings in Cintas were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Sound Income Strategies LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $27,000. Endeavor Private Wealth Inc. bought a new stake in Cintas in the 4th quarter worth approximately $31,000. IAG Wealth Partners LLC raised its stake in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after buying an additional 104 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas during the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management purchased a new position in shares of Cintas in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CTAS shares. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Citigroup assumed coverage on shares of Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. 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. Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two 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. According to MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Down 0.8 %

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 company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a market cap of $76.91 billion, a PE ratio of 45.95, a P/E/G ratio of 3.98 and a beta of 1.41. The stock’s 50 day moving average is $199.88 and its 200 day moving average is $209.11.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS 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 for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the firm earned $3.61 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%. Cintas’s payout ratio is 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.