Berger Financial Group Inc Buys 31,641 Shares of Cintas Corporation $CTAS

Berger Financial Group Inc increased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 2,269.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 33,035 shares of the business services provider’s stock after buying an additional 31,641 shares during the quarter. Berger Financial Group Inc’s holdings in Cintas were worth $5,588,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Prana Capital Management LP acquired a new stake in shares of Cintas in the 3rd quarter valued at $14,312,000. First Trust Advisors LP boosted its stake in Cintas by 2.5% in the third quarter. First Trust Advisors LP now owns 413,665 shares of the business services provider’s stock valued at $84,909,000 after buying an additional 10,249 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Cintas during the fourth quarter worth about $15,736,000. California Public Employees Retirement System raised its stake in Cintas by 19.0% during the third quarter. California Public Employees Retirement System now owns 792,816 shares of the business services provider’s stock worth $162,733,000 after acquiring an additional 126,845 shares in the last quarter. Finally, Caledonia Investments PLC bought a new position in shares of Cintas in the fourth quarter worth about $33,287,000. Institutional investors own 63.46% of the company’s stock.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 14.90% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $181.37 on Friday. The firm’s fifty day moving average is $172.75 and its 200-day moving average is $182.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75. The firm has a market cap of $72.56 billion, a P/E ratio of 51.23, a P/E/G ratio of 2.89 and a beta of 0.94.

Cintas Announces Dividend

The company also recently announced 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 1.0%. Cintas’s payout ratio is presently 50.85%.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a research report on Wednesday, March 11th. Citigroup decreased their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Truist Financial dropped their price target on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $211.25.

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.