Trustmark National Bank Trust Department Acquires 17,078 Shares of Cintas Co. (NASDAQ:CTAS)

Trustmark National Bank Trust Department grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 302.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,727 shares of the business services provider’s stock after purchasing an additional 17,078 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Cintas were worth $4,679,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Checchi Capital Advisers LLC lifted its holdings in Cintas by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 14 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Cintas by 0.5% in the second quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock worth $2,034,000 after buying an additional 14 shares during the last quarter. Field & Main Bank boosted its holdings in shares of Cintas by 25.0% during the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after buying an additional 15 shares during the period. Drive Wealth Management LLC grew its stake in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock valued at $314,000 after buying an additional 16 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in Cintas by 1.2% in the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $218.75 on Thursday. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $88.22 billion, a P/E ratio of 55.24, a PEG ratio of 4.29 and a beta of 1.32. The business has a 50-day moving average of $210.05 and a 200-day moving average of $196.56. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $227.35.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $3.70 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio is currently 39.39%.

Analyst Upgrades and Downgrades

CTAS has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research note on Thursday, September 26th. Jefferies Financial Group dropped their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Redburn Atlantic initiated coverage on shares of Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 target price for the company. Finally, Barclays boosted their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus target price of $199.63.

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.