KBC Group NV Has $60.27 Million Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

KBC Group NV increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 23.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,226 shares of the business services provider's stock after acquiring an additional 56,125 shares during the period. KBC Group NV owned about 0.07% of Cintas worth $60,266,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Norges Bank acquired a new position in shares of Cintas during the fourth quarter worth approximately $877,216,000. GAMMA Investing LLC raised its position in Cintas by 19,644.3% in the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares during the last quarter. Winslow Capital Management LLC bought a new position in Cintas in the 4th quarter worth approximately $196,057,000. Raymond James Financial Inc. acquired a new position in Cintas during the 4th quarter worth $96,282,000. Finally, Northern Trust Corp boosted its position in Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after buying an additional 472,069 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 1.0%

CTAS stock traded up $2.12 during trading on Monday, hitting $222.87. The company had a trading volume of 1,378,728 shares, compared to its average volume of 1,664,854. The stock has a market cap of $89.99 billion, a PE ratio of 51.62, a PEG ratio of 3.44 and a beta of 1.08. The business has a 50-day moving average of $218.64 and a 200-day moving average of $205.59. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Cintas Corporation has a one year low of $172.20 and a one year high of $229.24.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, May 15th. Cintas's dividend payout ratio is presently 36.11%.

Insider Buying and Selling at Cintas

In other Cintas 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 transaction, the director directly owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jim Rozakis sold 2,000 shares of the firm'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 sale, the chief operating officer directly owned 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 owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CTAS. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research report on Thursday, May 1st. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Robert W. Baird upped their price target on shares of Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, The Goldman Sachs Group upped their price objective on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Three investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $215.81.

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.