Cintas Co. (NASDAQ:CTAS) Shares Bought by Synovus Financial Corp

Synovus Financial Corp lifted its position in shares of Cintas Co. (NASDAQ:CTAS) by 303.4% during the third quarter, Holdings Channel reports. The firm owned 15,324 shares of the business services provider’s stock after acquiring an additional 11,525 shares during the quarter. Synovus Financial Corp’s holdings in Cintas were worth $3,155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CTAS. Checchi Capital Advisers LLC lifted its stake in Cintas by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after buying an additional 14 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Cintas by 0.5% in the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after acquiring an additional 14 shares during the period. Field & Main Bank raised its position in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the last quarter. Drive Wealth Management LLC boosted its stake in Cintas by 3.7% during the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association grew its position in Cintas by 1.2% during the 2nd quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock worth $954,000 after purchasing an additional 16 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Down 0.2 %

Shares of CTAS opened at $211.22 on Friday. Cintas Co. has a twelve month low of $138.39 and a twelve month high of $228.12. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $85.19 billion, a P/E ratio of 53.34, a PEG ratio of 4.15 and a beta of 1.33. The firm’s 50-day moving average is $215.13 and its two-hundred day moving average is $202.15.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the firm posted $3.70 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts predict that Cintas Co. will post 4.23 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 15th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CTAS. Jefferies Financial Group lowered their price target on Cintas from $730.00 to $200.00 and set a “hold” rating on the stock 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. The Goldman Sachs Group upped their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. UBS Group lifted their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley upped their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.77.

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.