American Trust Lowers Stock Position in Cintas Corporation $CTAS

American Trust reduced its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 18.1% during the 1st quarter, HoldingsChannel reports. The firm owned 24,648 shares of the business services provider’s stock after selling 5,453 shares during the period. American Trust’s holdings in Cintas were worth $4,169,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CTAS. Brighton Jones LLC raised its stake in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 108 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Cintas in the second quarter valued at about $625,000. Treasurer of the State of North Carolina raised its holdings in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after purchasing an additional 31,068 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CTAS shares. Bank of America dropped their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Truist Financial reduced their price objective 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. Weiss Ratings lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. 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 research note on Tuesday, March 31st. Finally, Stifel Nicolaus decreased their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $211.25.

Cintas Price Performance

Shares of CTAS traded up $1.95 during trading hours on Friday, hitting $179.64. 1,333,635 shares of the company were exchanged, compared to its average volume of 1,943,040. The firm has a fifty day simple moving average of $173.19 and a 200-day simple moving average of $182.69. The company has a market capitalization of $71.87 billion, a PE ratio of 50.75, a PEG ratio of 2.86 and a beta of 0.94. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas Dividend Announcement

The firm also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director owned 22,448 shares of the company’s stock, valued at $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 is available through this link. Corporate insiders own 14.90% of the company’s stock.

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.