OneAscent Financial Services LLC Purchases New Position in Cintas Co. (NASDAQ:CTAS)

OneAscent Financial Services LLC acquired a new position in shares of Cintas Co. (NASDAQ:CTAS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,783 shares of the business services provider’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after buying an additional 10,910,285 shares during the period. Geode Capital Management LLC grew its holdings in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after acquiring an additional 6,235,052 shares in the last quarter. Norges Bank purchased a new position in Cintas during the 4th quarter valued at about $877,216,000. Franklin Resources Inc. raised its holdings in shares of Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. 63.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Morgan Stanley upped their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Finally, UBS Group boosted their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $210.58.

Cintas Price Performance

Shares of CTAS opened at $204.85 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The company’s fifty day moving average price is $201.62 and its 200-day moving average price is $204.64. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The firm has a market capitalization of $82.67 billion, a PE ratio of 49.39, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $3.84 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is presently 36.11%.

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.