Fifth Third Bancorp Acquires 47,714 Shares of Cintas Corporation $CTAS

Fifth Third Bancorp increased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 8.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 605,691 shares of the business services provider’s stock after buying an additional 47,714 shares during the period. Fifth Third Bancorp owned 0.15% of Cintas worth $102,447,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. One Capital Management LLC lifted its position in shares of Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 53 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in shares of Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 54 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Cintas by 0.8% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after buying an additional 58 shares in the last quarter. Woodward Diversified Capital LLC boosted its position in Cintas by 4.8% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock valued at $242,000 after buying an additional 59 shares during the last quarter. Finally, Mather Group LLC. boosted its position in Cintas by 1.4% in the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after buying an additional 59 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Trading Up 1.1%

Shares of NASDAQ:CTAS traded up $1.95 during mid-day trading on Friday, reaching $179.64. The stock had a trading volume of 1,333,635 shares, compared to its average volume of 1,943,040. The firm has a 50 day simple moving average of $173.19 and a two-hundred day simple moving average of $182.69. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75. The firm has a market cap of $71.87 billion, a PE ratio of 50.75, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given 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 of this dividend was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the business’s 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CTAS shares. Weiss Ratings downgraded Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Stifel Nicolaus lowered their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Citigroup cut their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. Finally, Bank of America cut their price objective on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.