Cintas Corporation $CTAS Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 88,590 shares of the business services provider’s stock after buying an additional 4,236 shares during the period. Janney Montgomery Scott LLC’s holdings in Cintas were worth $14,984,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Cintas by 1.4% in the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after acquiring an additional 210,477 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after acquiring an additional 97,220 shares during the last quarter. Norges Bank purchased a new stake in shares of Cintas in the fourth quarter valued at about $923,672,000. Morgan Stanley grew its holdings in shares of Cintas by 0.8% in the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after purchasing an additional 36,666 shares during the period. Finally, Nordea Investment Management AB increased its position in Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock worth $517,466,000 after purchasing an additional 158,785 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Trading Up 2.4%

Shares of NASDAQ CTAS opened at $174.23 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $69.71 billion, a PE ratio of 49.22, a PEG ratio of 2.71 and a beta of 0.94. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The stock has a fifty day simple moving average of $172.51 and a 200-day simple moving average of $183.05.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a $0.45 dividend. 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 payout ratio is currently 50.85%.

Analysts Set New Price Targets

CTAS has been the topic of a number of analyst reports. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Truist Financial reduced their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Finally, Citigroup decreased their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $211.25.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is owned by company insiders.

About Cintas

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.