Cintas Corporation (NASDAQ:CTAS) Stock Holdings Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,762 shares of the business services provider's stock after acquiring an additional 5,776 shares during the period. IFM Investors Pty Ltd's holdings in Cintas were worth $14,980,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. MJP Associates Inc. ADV grew its holdings in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after acquiring an additional 50 shares in the last quarter. TIAA Trust National Association grew its holdings in Cintas by 1.0% during the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after acquiring an additional 52 shares in the last quarter. Wellspring Financial Advisors LLC grew its holdings in Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock worth $214,000 after acquiring an additional 52 shares in the last quarter. Johnson Financial Group Inc. grew its holdings in Cintas by 7.7% during the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after acquiring an additional 52 shares in the last quarter. Finally, Portside Wealth Group LLC grew its holdings in Cintas by 4.2% during the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock worth $270,000 after acquiring an additional 53 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS traded up $3.17 during midday trading on Friday, reaching $218.83. The company's stock had a trading volume of 942,340 shares, compared to its average volume of 1,670,641. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $220.01 and a 200 day moving average price of $206.00. Cintas Corporation has a one year low of $176.60 and a one year high of $229.24. The company has a market cap of $88.36 billion, a price-to-earnings ratio of 50.68, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors 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 dividend on an annualized basis and a dividend yield of 0.71%. Cintas's payout ratio is currently 36.11%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the sale, the director directly owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the completion of the sale, the chief operating officer owned 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Bank of America assumed coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of "Hold" and a consensus target price of $219.58.

Cintas Company Profile

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.