Pinnacle Financial Partners Inc Acquires 1,655 Shares of Cintas Co. (NASDAQ:CTAS)

Pinnacle Financial Partners Inc grew its holdings in Cintas Co. (NASDAQ:CTAS) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,908 shares of the business services provider’s stock after acquiring an additional 1,655 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Cintas were worth $10,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTAS. Financial Management Professionals Inc. raised its stake in shares of Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Hollencrest Capital Management raised its stake in shares of Cintas by 433.3% in the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Addison Advisors LLC raised its stake in shares of Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares in the last quarter. Sound Income Strategies LLC acquired a new position in shares of Cintas in the fourth quarter valued at $27,000. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Cintas by 321.1% in the third quarter. Capital Advisors Ltd. LLC now owns 160 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 122 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group cut their target price on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Robert W. Baird cut their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Finally, The Goldman Sachs Group dropped their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Price Performance

Shares of CTAS stock opened at $204.43 on Friday. The stock’s fifty day moving average is $196.53 and its 200-day moving average is $208.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The stock has a market capitalization of $82.50 billion, a PE ratio of 49.29, a PEG ratio of 3.98 and a beta of 1.38. Cintas Co. has a 52 week low of $154.15 and a 52 week high of $228.12.

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

Cintas Announces Dividend

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

Cintas Company 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.