Cintas Co. (NASDAQ:CTAS) Shares Acquired by Czech National Bank

Czech National Bank increased its stake in shares of Cintas Co. (NASDAQ:CTASFree Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,784 shares of the business services provider’s stock after buying an additional 4,457 shares during the quarter. Czech National Bank’s holdings in Cintas were worth $16,192,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTAS. Norges Bank purchased a new position in shares of Cintas during the fourth quarter worth about $877,216,000. GAMMA Investing LLC grew its holdings in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock worth $465,133,000 after buying an additional 2,251,629 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cintas by 137.5% during the third quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Cintas during the fourth quarter worth about $196,057,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Cintas during the fourth quarter worth about $96,282,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $226.61 on Monday. The firm has a 50 day moving average of $210.54 and a 200-day moving average of $205.13. Cintas Co. has a 12-month low of $167.71 and a 12-month high of $228.12. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a market cap of $91.50 billion, a price-to-earnings ratio of 54.64, a PEG ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTASGet Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm posted $3.84 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas’s payout ratio is currently 36.11%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CTAS. Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on Cintas from $211.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday, March 27th. Finally, Citigroup began coverage on Cintas in a report on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $213.88.

View Our Latest Research Report on CTAS

Insider Activity at Cintas

In related news, COO Jim Rozakis sold 2,000 shares of the company’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 value of $380,740.00. Following the sale, the chief operating officer now owns 256,528 shares of the company’s stock, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 8,521 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now directly owns 27,029 shares in the company, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by corporate insiders.

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.

Further Reading

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTASFree Report).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.