Cintas Corporation (NASDAQ:CTAS) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 11.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,739 shares of the business services provider's stock after purchasing an additional 1,699 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Cintas were worth $3,440,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CTAS. Norges Bank acquired a new position in Cintas in the fourth quarter worth $877,216,000. GAMMA Investing LLC boosted its holdings in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after acquiring an additional 2,251,629 shares during the period. Winslow Capital Management LLC acquired a new position in shares of Cintas during the fourth quarter valued at $196,057,000. Raymond James Financial Inc. acquired a new position in shares of Cintas during the fourth quarter valued at $96,282,000. Finally, Northern Trust Corp boosted its holdings in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after acquiring an additional 472,069 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CTAS shares. Morgan Stanley boosted their price target on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. The Goldman Sachs Group boosted their price target on shares of Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective on the stock. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Truist Financial lifted their price objective on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $215.81.

Insider Buying and Selling at Cintas

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 stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Price Performance

NASDAQ CTAS opened at $219.24 on Thursday. The stock's 50-day moving average price is $218.05 and its two-hundred day moving average price is $205.51. 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 market cap of $88.53 billion, a PE ratio of 50.78, a PEG ratio of 3.48 and a beta of 1.07. Cintas Corporation has a 1 year low of $172.20 and a 1 year high of $229.24.

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

Cintas Announces Dividend

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

Cintas 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.

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