Atomi Financial Group Inc. Acquires 508 Shares of Cintas Co. (NASDAQ:CTAS)

Atomi Financial Group Inc. boosted its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,442 shares of the business services provider’s stock after purchasing an additional 508 shares during the period. Atomi Financial Group Inc.’s holdings in Cintas were worth $812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock worth $2,996,697,000 after purchasing an additional 10,910,285 shares in the last quarter. FMR LLC grew its stake in Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cintas by 308.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock worth $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $199.02 on Thursday. The stock has a market cap of $80.31 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 3.83 and a beta of 1.37. The stock has a 50-day moving average of $204.22 and a 200-day moving average of $205.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a one year low of $148.75 and a one year high of $228.12.

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

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.78%. Cintas’s dividend payout ratio (DPR) is currently 37.61%.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent analyst reports. Truist Financial dropped their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Barclays lifted their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. UBS Group decreased their price objective 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. Wells Fargo & Company dropped their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set 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 given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.46.

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.