AdvisorNet Financial Inc Cuts Stake in Cintas Co. (NASDAQ:CTAS)

AdvisorNet Financial Inc lessened its stake in shares of Cintas Co. (NASDAQ:CTAS) by 9.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,776 shares of the business services provider’s stock after selling 283 shares during the period. AdvisorNet Financial Inc’s holdings in Cintas were worth $507,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CTAS. Quarry LP raised its holdings in shares of Cintas by 500.0% in the 2nd quarter. Quarry LP now owns 108 shares of the business services provider’s stock worth $76,000 after purchasing an additional 90 shares during the period. Financial Management Professionals Inc. increased its position in Cintas by 341.4% in the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after buying an additional 99 shares during 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 buying an additional 104 shares during the period. Addison Advisors LLC lifted its position in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after buying an additional 114 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Cintas by 1,340.0% during the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CTAS shares. The Goldman Sachs Group lowered their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group dropped their target price on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Truist Financial dropped their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $195.70 on Thursday. The company’s fifty day moving average price is $206.61 and its 200-day moving average price is $204.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The firm has a market capitalization of $78.97 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 4.16 and a beta of 1.37. Cintas Co. has a one year low of $146.29 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the firm earned $3.61 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. Cintas’s dividend payout ratio 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.