Swedbank AB Has $37.45 Million Position in Cintas Corporation $CTAS

Key Points

• Swedbank AB reduced its Cintas stake by 3.9% in the first quarter, selling 8,882 shares and ending with 221,411 shares worth about $37.45 million.
• Institutional ownership of Cintas remains high, with 63.46% of shares held by institutions and hedge funds, while some smaller investors recently opened new positions.
• Wall Street sentiment is mixed: analysts have a consensus Hold rating on Cintas, with an average price target of $211.25, even as the stock traded around $180.17 and continued paying a quarterly dividend of $0.45 per share.

Swedbank AB lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,411 shares of the business services provider's stock after selling 8,882 shares during the period. Swedbank AB owned approximately 0.06% of Cintas worth $37,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nemes Rush Group LLC bought a new stake in Cintas during the 4th quarter worth approximately $25,000. First United Bank & Trust bought a new position in Cintas in the first quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in Cintas in the fourth quarter valued at approximately $25,000. Camelot Portfolios LLC acquired a new position in shares of Cintas in the fourth quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Cintas in the fourth quarter valued at approximately $26,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup dropped their price objective on shares of Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a report on Tuesday, March 31st. Bank of America reduced their target price on shares of Cintas from $215.00 to $200.00 and set a "neutral" rating for the company in a research note on Monday, June 29th. Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. Stifel Nicolaus dropped their price target on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research note on Thursday, March 26th. Finally, UBS Group reissued a "buy" rating on shares of Cintas in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $211.25.

Cintas Price Performance

Shares of CTAS opened at $180.17 on Thursday. The stock has a market capitalization of $72.08 billion, a P/E ratio of 50.90, a P/E/G ratio of 2.90 and a beta of 0.94. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The company has a 50 day moving average of $173.00 and a 200-day moving average of $182.78. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas's dividend payout ratio is presently 50.85%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company's stock, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.90% of the company's stock.

Cintas Company Profile

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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