SG Americas Securities LLC Increases Stake in Cintas Corporation $CTAS

Key Points

• SG Americas Securities LLC2,653.0% in Q4, adding 966,597 shares to hold 1,003,031 shares (~0.25% of the company) valued at about $188.64 million.
• Cintas carries a consensus analyst rating of "Moderate Buy" with an average target of $220.25; notable recent moves include Wells Fargo upgrading to Overweight with a $245 target and Morgan Stanley trimming its target to $210 (Equal Weight).
• The company recently paid a quarterly dividend of $0.45 ($1.80 annualized, 1.0% yield), and trades at a market cap of $72.46 billion with a trailing P/E of 52.83.

SG Americas Securities LLC increased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 2,653.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,031 shares of the business services provider's stock after acquiring an additional 966,597 shares during the quarter. SG Americas Securities LLC owned approximately 0.25% of Cintas worth $188,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares during the period. Sivia Capital Partners LLC grew its holdings in Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after purchasing an additional 428 shares during the period. Journey Strategic Wealth LLC increased its position in Cintas by 37.5% during the 2nd quarter. Journey Strategic Wealth LLC now owns 1,452 shares of the business services provider's stock valued at $324,000 after buying an additional 396 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Cintas during the second quarter valued at $130,000. Finally, American Century Companies Inc. increased its stake in Cintas by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 990,154 shares of the business services provider's stock valued at $220,676,000 after purchasing an additional 3,847 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTAS shares. Morgan Stanley decreased their target price on Cintas from $220.00 to $210.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 17th. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, January 21st. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $206.00 target price on shares of Cintas in a report on Friday, December 19th. Weiss Ratings raised shares of Cintas from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 17th. Finally, Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and boosted their target price for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cintas currently has a consensus rating of "Moderate Buy" and an average target price of $220.25.

Cintas Price Performance

CTAS stock opened at $181.21 on Tuesday. The stock has a market cap of $72.46 billion, a PE ratio of 52.83, a P/E/G ratio of 3.23 and a beta of 0.95. The company has a 50-day moving average price of $194.71 and a 200 day moving average price of $192.27. Cintas Corporation has a 12 month low of $177.94 and a 12 month high of $229.24. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were paid a $0.45 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas's dividend payout ratio (DPR) is presently 52.48%.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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