World Investment Advisors boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 27.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,096 shares of the business services provider's stock after acquiring an additional 2,608 shares during the period. World Investment Advisors' holdings in Cintas were worth $2,486,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of CTAS. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth about $29,000. IAG Wealth Partners LLC lifted its holdings in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after acquiring an additional 134 shares during the last quarter. OFI Invest Asset Management bought a new position in Cintas in the fourth quarter worth about $37,000. Finally, VSM Wealth Advisory LLC bought a new position in Cintas in the fourth quarter worth about $40,000. Institutional investors own 63.46% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on CTAS shares. The Goldman Sachs Group raised their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley lifted their price target on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Robert W. Baird lifted their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Bank of America assumed coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $219.58.
Get Our Latest Stock Analysis on CTAS
Insider Activity
In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.00% of the company's stock.
Cintas Price Performance
NASDAQ CTAS opened at $218.83 on Monday. Cintas Corporation has a 12 month low of $176.60 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The firm has a market capitalization of $88.36 billion, a PE ratio of 50.68, a P/E/G ratio of 3.42 and a beta of 1.05. The company's 50 day simple moving average is $220.01 and its 200 day simple moving average is $206.16.
Cintas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.71%. Cintas's dividend payout ratio is currently 36.11%.
Cintas Profile
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Free Report)
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.
Further Reading
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).
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