Cintas Co. (NASDAQ:CTAS) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 605,222 shares of the business services provider's stock after acquiring an additional 5,784 shares during the period. Fifth Third Bancorp owned 0.15% of Cintas worth $124,391,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTAS. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Cintas by 29.5% in the 4th quarter. Empowered Funds LLC now owns 24,634 shares of the business services provider's stock valued at $4,501,000 after acquiring an additional 5,606 shares during the last quarter. Kestra Private Wealth Services LLC lifted its stake in Cintas by 4.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 12,137 shares of the business services provider's stock worth $2,217,000 after purchasing an additional 565 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Cintas during the fourth quarter valued at approximately $34,000. Finally, Savant Capital LLC raised its stake in shares of Cintas by 5.6% during the fourth quarter. Savant Capital LLC now owns 11,625 shares of the business services provider's stock valued at $2,124,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $240.00 price objective (up from $215.00) on shares of Cintas in a report on Monday. Morgan Stanley lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a report on Thursday, March 27th. Finally, Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $215.81.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction 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 completion of the transaction, the director now directly owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at approximately $48,835,235.36. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Cintas Stock Up 0.8%

NASDAQ CTAS traded up $1.85 on Thursday, hitting $223.57. The stock had a trading volume of 1,466,910 shares, compared to its average volume of 1,702,938. The stock has a market cap of $90.27 billion, a price-to-earnings ratio of 53.90, a price-to-earnings-growth ratio of 3.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 52-week low of $170.93 and a 52-week high of $229.24. The business's fifty day moving average price is $214.01 and its 200 day moving average price is $205.71.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.84 earnings per share. Equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's dividend payout ratio (DPR) is presently 36.11%.

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.