EULAV Asset Management Has $113.19 Million Position in Cintas Corporation (NASDAQ:CTAS)

EULAV Asset Management cut its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 550,735 shares of the business services provider's stock after selling 32,954 shares during the quarter. Cintas accounts for 2.8% of EULAV Asset Management's portfolio, making the stock its 6th largest position. EULAV Asset Management owned about 0.14% of Cintas worth $113,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. MJP Associates Inc. ADV lifted its stake in Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after purchasing an additional 52 shares during the period. Wellspring Financial Advisors LLC increased its holdings in shares of Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares during the period. Johnson Financial Group Inc. increased its holdings in shares of Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after purchasing an additional 52 shares during the period. Finally, Portside Wealth Group LLC increased its holdings in shares of Cintas by 4.2% in the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock valued at $270,000 after purchasing an additional 53 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTAS. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 target price (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of "Hold" and an average price target of $219.58.

Cintas Stock Down 0.8%

NASDAQ:CTAS traded down $1.82 during mid-day trading on Monday, reaching $217.54. The stock had a trading volume of 1,385,480 shares, compared to its average volume of 1,669,499. The business's 50 day moving average is $220.01 and its 200 day moving average is $206.16. Cintas Corporation has a fifty-two week low of $176.60 and a fifty-two week high of $229.24. The stock has a market cap of $87.84 billion, a P/E ratio of 50.39, a PEG ratio of 3.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.72%. Cintas's payout ratio is currently 36.11%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the company'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 transaction of $1,780,548.16. Following the completion of the sale, the director owned 27,029 shares of the company's stock, valued at $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by insiders.

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.