First Horizon Advisors Inc. Purchases 135 Shares of Cintas Co. (NASDAQ:CTAS)

First Horizon Advisors Inc. raised its position in Cintas Co. (NASDAQ:CTAS) by 12.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,183 shares of the business services provider’s stock after purchasing an additional 135 shares during the period. First Horizon Advisors Inc.’s holdings in Cintas were worth $216,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc boosted its stake in Cintas by 2.9% during the fourth quarter. Pinnacle Financial Partners Inc now owns 57,908 shares of the business services provider’s stock valued at $10,605,000 after buying an additional 1,655 shares during the period. Sigma Planning Corp raised its holdings in shares of Cintas by 48.1% in the 4th quarter. Sigma Planning Corp now owns 4,338 shares of the business services provider’s stock valued at $793,000 after acquiring an additional 1,409 shares in the last quarter. Dividend Assets Capital LLC boosted its position in shares of Cintas by 4.1% during the 4th quarter. Dividend Assets Capital LLC now owns 29,691 shares of the business services provider’s stock valued at $5,425,000 after acquiring an additional 1,182 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Cintas by 11.2% during the fourth quarter. VisionPoint Advisory Group LLC now owns 895 shares of the business services provider’s stock worth $163,000 after purchasing an additional 90 shares in the last quarter. Finally, Compass Capital Corp MA ADV bought a new position in shares of Cintas in the fourth quarter worth approximately $325,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Cintas in a research report on Monday. They set a “sell” rating and a $161.00 target price for the company. Wells Fargo & Company reduced their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird lowered their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $199.79.

Cintas Stock Up 1.2 %

Shares of Cintas stock opened at $205.82 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a 52-week low of $154.15 and a 52-week high of $228.12. The company’s 50 day moving average price is $196.31 and its 200-day moving average price is $208.62. The stock has a market capitalization of $83.06 billion, a price-to-earnings ratio of 49.63, a P/E/G ratio of 3.98 and a beta of 1.38.

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

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 37.59%.

Cintas 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.