GF Fund Management CO. LTD. grew its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,739 shares of the business services provider's stock after buying an additional 1,305 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Cintas were worth $15,978,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Cyrus J. Lawrence LLC purchased a new position in Cintas in the 4th quarter worth approximately $29,000. IAG Wealth Partners LLC raised its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after acquiring an additional 134 shares during the last quarter. OFI Invest Asset Management bought a new stake in Cintas in the 4th quarter worth approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares during the period. 63.46% of the stock is owned by institutional investors.
Cintas Stock Down 0.8%
NASDAQ:CTAS traded down $1.82 during mid-day trading on Monday, hitting $217.54. 1,385,480 shares of the company's stock traded hands, compared to its average volume of 1,669,499. The company has a fifty day moving average of $220.01 and a 200 day moving average of $206.16. Cintas Corporation has a twelve month low of $176.60 and a twelve month high of $229.24. The company has a market capitalization of $87.84 billion, a P/E ratio of 50.39, a P/E/G ratio of 3.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72.
Cintas Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.
Insiders Place Their Bets
In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 transaction, the director directly owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Robert W. Baird lifted their target price on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, The Goldman Sachs Group upped their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of "Hold" and a consensus price target of $219.58.
Get Our Latest Stock Analysis on Cintas
Cintas Profile
(
Free Report)
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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