Hancock Whitney Corp Boosts Stake in Cintas Co. (NASDAQ:CTAS)

Hancock Whitney Corp increased its stake in shares of Cintas Co. (NASDAQ:CTAS) by 527.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,526 shares of the business services provider’s stock after acquiring an additional 3,805 shares during the period. Hancock Whitney Corp’s holdings in Cintas were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Atria Investments Inc boosted its position in Cintas by 291.7% in the 3rd quarter. Atria Investments Inc now owns 22,321 shares of the business services provider’s stock valued at $4,595,000 after buying an additional 16,623 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Cintas by 343.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after purchasing an additional 86,460 shares in the last quarter. Creative Planning increased its stake in shares of Cintas by 34.4% in the second quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares during the last quarter. Western Financial Corp CA raised its holdings in Cintas by 628.2% in the third quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock valued at $2,429,000 after acquiring an additional 10,177 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Cintas by 361.9% in the 3rd quarter. Portside Wealth Group LLC now owns 1,395 shares of the business services provider’s stock worth $287,000 after purchasing an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.1 %

Shares of NASDAQ:CTAS opened at $226.47 on Wednesday. The company has a market cap of $91.34 billion, a PE ratio of 57.19, a price-to-earnings-growth ratio of 4.37 and a beta of 1.32. Cintas Co. has a 52 week low of $136.87 and a 52 week high of $228.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a 50 day simple moving average of $211.47 and a 200 day simple moving average of $198.14.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business posted $3.70 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Cintas’s dividend payout ratio is presently 39.39%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CTAS. The Goldman Sachs Group boosted their price target on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Truist Financial lifted their target price on Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Barclays boosted their price objective on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley boosted their price target on shares of Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group decreased their target price on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $199.63.

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.