Czech National Bank boosted its holdings in Cintas Corporation (NASDAQ:CTAS – Free Report) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,798 shares of the business services provider’s stock after buying an additional 4,226 shares during the quarter. Czech National Bank’s holdings in Cintas were worth $16,463,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Riverbridge Partners LLC increased its holdings in shares of Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after acquiring an additional 16,437 shares during the last quarter. SEB Asset Management AB purchased a new stake in Cintas during the first quarter worth approximately $22,366,000. Northwestern Mutual Wealth Management Co. lifted its stake in Cintas by 2,286.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock worth $138,536,000 after purchasing an additional 705,751 shares during the last quarter. Suncoast Equity Management boosted its holdings in Cintas by 53.7% in the fourth quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider’s stock valued at $4,485,000 after purchasing an additional 8,330 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in Cintas by 0.7% in the fourth quarter. King Luther Capital Management Corp now owns 1,812,112 shares of the business services provider’s stock valued at $340,804,000 after purchasing an additional 12,204 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Cintas Trading Up 0.4%
CTAS opened at $203.05 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The business’s 50 day moving average is $186.23 and its two-hundred day moving average is $184.43. The firm has a market cap of $81.25 billion, a price-to-earnings ratio of 54.29, a price-to-earnings-growth ratio of 3.26 and a beta of 0.92.
Cintas Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is 48.13%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Truist Financial reduced their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus price target of $212.31.
Get Our Latest Stock Report on Cintas
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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