Astoria Portfolio Advisors LLC. Decreases Holdings in Cintas Co. (NASDAQ:CTAS)

Astoria Portfolio Advisors LLC. decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 2.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,571 shares of the business services provider’s stock after selling 56 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Cintas were worth $494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Mercer Global Advisors Inc. ADV lifted its stake in Cintas by 1.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 6,664 shares of the business services provider’s stock worth $5,053,000 after purchasing an additional 65 shares during the last quarter. Seven Eight Capital LP increased its holdings in shares of Cintas by 28.2% in the second quarter. Seven Eight Capital LP now owns 486 shares of the business services provider’s stock worth $340,000 after buying an additional 107 shares during the period. AE Wealth Management LLC increased its holdings in shares of Cintas by 32.0% in the second quarter. AE Wealth Management LLC now owns 3,223 shares of the business services provider’s stock worth $2,257,000 after buying an additional 781 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Cintas by 119.4% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 39,882 shares of the business services provider’s stock valued at $27,933,000 after acquiring an additional 21,703 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Cintas by 57.4% during the 2nd quarter. Sei Investments Co. now owns 38,848 shares of the business services provider’s stock valued at $27,202,000 after acquiring an additional 14,170 shares during the period. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 0.1 %

NASDAQ CTAS opened at $198.31 on Friday. The firm has a market capitalization of $80.03 billion, a PE ratio of 47.81, a P/E/G ratio of 3.65 and a beta of 1.37. The stock’s 50 day moving average is $205.21 and its 200 day moving average is $204.93. Cintas Co. has a twelve month low of $146.63 and a twelve month high of $228.12. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

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

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. Cintas’s payout ratio is 37.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CTAS shares. Morgan Stanley lifted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Jefferies Financial Group lowered their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Cintas presently has an average rating of “Hold” and an average target price 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.