Fifth Third Bancorp Has $102.45 Million Holdings in Cintas Corporation $CTAS

Fifth Third Bancorp lifted its stake in shares of Cintas Corporation (NASDAQ:CTASFree Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,691 shares of the business services provider’s stock after acquiring an additional 47,714 shares during the period. Fifth Third Bancorp’s holdings in Cintas were worth $102,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Cintas in the 2nd quarter valued at approximately $625,000. Treasurer of the State of North Carolina boosted its position in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after acquiring an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC grew its stake in shares of Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after acquiring an additional 31,068 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 1.1%

Shares of Cintas stock traded up $1.95 on Friday, reaching $179.64. 1,333,635 shares of the company were exchanged, compared to its average volume of 1,943,040. The company has a market capitalization of $71.87 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 2.86 and a beta of 0.94. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The company has a 50-day moving average of $173.19 and a 200 day moving average of $182.69.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 14.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTAS. Stifel Nicolaus cut their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Bank of America lowered their price target on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Citigroup reduced their price objective on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $211.25.

View Our Latest Report on CTAS

Cintas Company Profile

(Free Report)

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

Further Reading

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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