MASTERINVEST Kapitalanlage GmbH bought a new stake in Cintas Corporation (NASDAQ:CTAS – Free Report) in the second quarter, Holdings Channel.com reports. The firm bought 10,068 shares of the business services provider’s stock, valued at approximately $1,712,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. Nemes Rush Group LLC purchased a new stake in Cintas during the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in Cintas in the 4th quarter worth approximately $25,000. First United Bank & Trust purchased a new position in Cintas in the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC boosted its holdings in shares of Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after purchasing an additional 137 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Cintas during the 4th quarter worth approximately $26,000. 63.46% of the stock is owned by hedge funds and other institutional investors.
Cintas Stock Down 0.8%
CTAS stock opened at $204.15 on Friday. The firm has a market cap of $81.69 billion, a PE ratio of 54.59, a PEG ratio of 3.32 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The firm’s 50 day moving average price is $193.76 and its 200-day moving average price is $185.38. Cintas Corporation has a one year low of $161.16 and a one year high of $219.16.
Cintas Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is currently 55.61%.
Wall Street Analyst Weigh In
CTAS has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Argus raised Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of “Moderate Buy” and a consensus target price of $212.31.
Read Our Latest Stock Report on CTAS
Cintas Company Profile
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.
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