Corient Private Wealth LLC Has $33.71 Million Stock Holdings in Cintas Corporation $CTAS

Corient Private Wealth LLC lifted its position in Cintas Corporation (NASDAQ:CTAS) by 13.7% during the 4th quarter, Holdings Channel reports. The firm owned 178,286 shares of the business services provider’s stock after buying an additional 21,499 shares during the quarter. Corient Private Wealth LLC’s holdings in Cintas were worth $33,709,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CTAS. Nemes Rush Group LLC bought a new position in Cintas during the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in Cintas during the fourth quarter worth about $25,000. Camelot Portfolios LLC bought a new stake in Cintas during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cintas during the fourth quarter worth approximately $26,000. Finally, Key Capital Management INC acquired a new stake in shares of Cintas during the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent analyst reports. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Truist Financial dropped their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. Finally, Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.92.

Cintas Price Performance

NASDAQ:CTAS opened at $170.85 on Monday. The stock’s fifty day moving average price is $173.50 and its two-hundred day moving average price is $183.87. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The company has a market cap of $68.36 billion, a price-to-earnings ratio of 48.26, a P/E/G ratio of 2.72 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting the consensus estimate of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS. On average, analysts anticipate that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $0.45 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insider Transactions at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.90% of the stock is currently owned by corporate insiders.

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.