Copeland Capital Management LLC Acquires 2,350 Shares of Cintas Corporation (NASDAQ:CTAS)

Copeland Capital Management LLC raised its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,205 shares of the business services provider's stock after purchasing an additional 2,350 shares during the quarter. Copeland Capital Management LLC's holdings in Cintas were worth $15,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in shares of Cintas by 26.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after acquiring an additional 468,950 shares during the period. Alpine Global Management LLC bought a new stake in shares of Cintas in the fourth quarter worth approximately $284,000. Treasurer of the State of North Carolina grew its stake in shares of Cintas by 12.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock worth $31,092,000 after acquiring an additional 18,620 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of Cintas by 97.6% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock worth $1,365,000 after acquiring an additional 3,690 shares during the period. Finally, Schulhoff & Co. Inc. bought a new stake in shares of Cintas in the fourth quarter worth approximately $258,000. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director now owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTAS. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Wells Fargo & Company raised their price objective on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cintas presently has a consensus rating of "Hold" and an average price target of $215.81.

Cintas Price Performance

NASDAQ:CTAS traded up $0.31 during trading hours on Friday, hitting $220.75. 1,565,480 shares of the stock traded hands, compared to its average volume of 1,666,003. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 1 year low of $172.20 and a 1 year high of $229.24. The company has a market cap of $89.14 billion, a price-to-earnings ratio of 51.13, a price-to-earnings-growth ratio of 3.44 and a beta of 1.07. The stock has a 50 day moving average price of $218.64 and a 200 day moving average price of $205.63.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the firm earned $3.84 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

About Cintas

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.