Hancock Whitney Corp Acquires 805 Shares of Cintas Co. (NASDAQ:CTAS)

Hancock Whitney Corp grew its holdings in Cintas Co. (NASDAQ:CTAS) by 17.8% in the fourth quarter, Holdings Channel reports. The firm owned 5,331 shares of the business services provider’s stock after buying an additional 805 shares during the quarter. Hancock Whitney Corp’s holdings in Cintas were worth $974,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new stake in Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas during the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Cintas during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Cintas in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, valued at approximately $48,835,235.36. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTAS. Truist Financial boosted their target price on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the company an “underweight” rating in a research note on Thursday, March 27th. Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has a consensus rating of “Hold” and a consensus target price of $213.62.

Cintas Stock Down 0.6 %

Shares of CTAS stock opened at $208.40 on Friday. 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 $162.16 and a one year high of $228.12. The company’s fifty day moving average price is $201.61 and its 200-day moving average price is $204.37. The company has a market capitalization of $84.15 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $3.84 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s payout ratio is 36.11%.

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.