Inspire Advisors LLC Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Inspire Advisors LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 115.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,724 shares of the business services provider’s stock after purchasing an additional 3,599 shares during the period. Inspire Advisors LLC’s holdings in Cintas were worth $1,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Donaldson Capital Management LLC raised its stake in shares of Cintas by 4.1% during the 4th quarter. Donaldson Capital Management LLC now owns 24,912 shares of the business services provider’s stock worth $4,551,000 after acquiring an additional 983 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Cintas by 1.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 42,293 shares of the business services provider’s stock worth $7,727,000 after acquiring an additional 576 shares in the last quarter. Clare Market Investments LLC bought a new position in shares of Cintas during the 4th quarter worth approximately $965,000. Independent Advisor Alliance raised its stake in shares of Cintas by 4.3% during the 4th quarter. Independent Advisor Alliance now owns 80,274 shares of the business services provider’s stock worth $14,666,000 after acquiring an additional 3,337 shares in the last quarter. Finally, Paragon Private Wealth Management LLC raised its stake in shares of Cintas by 17.1% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,349 shares of the business services provider’s stock worth $795,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Truist Financial cut their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird cut their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. UBS Group lowered their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Citigroup initiated coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $199.79.

Cintas Stock Performance

CTAS opened at $200.61 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market cap of $80.95 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 3.98 and a beta of 1.41. Cintas Co. has a 52-week low of $154.16 and a 52-week high of $228.12. The firm’s fifty day simple moving average is $199.24 and its two-hundred day simple moving average is $209.36.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (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 last year, the firm posted $3.61 earnings per share. Equities analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) 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.