3Chopt Investment Partners LLC Has $1.67 Million Position in Cintas Corporation $CTAS

3Chopt Investment Partners LLC raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 81.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,887 shares of the business services provider’s stock after purchasing an additional 4,436 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Cintas were worth $1,672,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nemes Rush Group LLC bought a new position in Cintas in the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas in the fourth quarter worth approximately $25,000. First United Bank & Trust bought a new position in shares of Cintas in the first quarter valued at approximately $25,000. Camelot Portfolios LLC purchased a new position in shares of Cintas during the fourth quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Cintas during the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a report on Wednesday, March 11th. Truist Financial reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $215.92.

Cintas Stock Performance

Shares of Cintas stock opened at $171.90 on Monday. The business’s fifty day simple moving average is $172.95 and its 200 day simple moving average is $183.36. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The firm has a market capitalization of $68.78 billion, a P/E ratio of 48.56, a price-to-earnings-growth ratio of 2.74 and a beta of 0.94.

Cintas Announces Dividend

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

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.90% of the stock is owned by insiders.

Cintas 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.