HBK Sorce Advisory LLC Purchases 101 Shares of Cintas Co. (NASDAQ:CTAS)

HBK Sorce Advisory LLC lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,225 shares of the business services provider’s stock after purchasing an additional 101 shares during the period. HBK Sorce Advisory LLC’s holdings in Cintas were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTAS. Skandinaviska Enskilda Banken AB publ boosted its holdings in Cintas by 2.9% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 206,711 shares of the business services provider’s stock valued at $37,983,000 after acquiring an additional 5,881 shares during the last quarter. Vestcor Inc boosted its holdings in Cintas by 171.3% in the fourth quarter. Vestcor Inc now owns 27,469 shares of the business services provider’s stock valued at $5,019,000 after acquiring an additional 17,345 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Cintas in the fourth quarter valued at approximately $2,587,000. Rakuten Securities Inc. boosted its holdings in Cintas by 70.6% in the fourth quarter. Rakuten Securities Inc. now owns 575 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 238 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Cintas by 13.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 22,424 shares of the business services provider’s stock valued at $4,097,000 after acquiring an additional 2,725 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent analyst reports. Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price target on the stock. UBS Group dropped their price target on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial dropped their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $199.79.

Cintas Trading Up 1.2 %

Shares of Cintas stock opened at $192.84 on Friday. The stock has a fifty day simple moving average of $200.02 and a 200 day simple moving average of $209.07. Cintas Co. has a 12-month low of $155.85 and a 12-month high of $228.12. The company has a market capitalization of $77.82 billion, a P/E ratio of 46.50, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted $3.61 earnings per share. Cintas’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) 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.