Asset Advisors Investment Management LLC Has $30.94 Million Position in Cintas Co. (NASDAQ:CTAS)

Asset Advisors Investment Management LLC lowered its position in Cintas Co. (NASDAQ:CTAS) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 169,336 shares of the business services provider’s stock after selling 4,412 shares during the period. Cintas accounts for about 3.2% of Asset Advisors Investment Management LLC’s holdings, making the stock its 7th biggest position. Asset Advisors Investment Management LLC’s holdings in Cintas were worth $30,938,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Cintas during the third quarter worth about $239,000. Ballentine Partners LLC boosted its stake in Cintas by 242.7% during the 3rd quarter. Ballentine Partners LLC now owns 2,190 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 1,551 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in Cintas by 299.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,906 shares of the business services provider’s stock worth $392,000 after purchasing an additional 1,429 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in shares of Cintas by 300.0% in the third quarter. Mediolanum International Funds Ltd now owns 2,204 shares of the business services provider’s stock worth $445,000 after purchasing an additional 1,653 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Cintas by 201.5% in the third quarter. Allworth Financial LP now owns 5,608 shares of the business services provider’s stock valued at $1,155,000 after purchasing an additional 3,748 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. The Goldman Sachs Group reduced their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Truist Financial reduced 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. Finally, Robert W. Baird dropped their target price 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Down 0.7 %

Shares of NASDAQ CTAS opened at $204.43 on Monday. 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 $82.50 billion, a PE ratio of 49.29, a P/E/G ratio of 3.98 and a beta of 1.38. Cintas Co. has a one year low of $154.15 and a one year high of $228.12. The business’s fifty day moving average price is $196.53 and its 200-day moving average price is $208.39.

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

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio is 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.