Kestra Advisory Services LLC Buys 3,078 Shares of Cintas Corporation $CTAS

Kestra Advisory Services LLC grew its stake in Cintas Corporation (NASDAQ:CTAS) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,541 shares of the business services provider’s stock after buying an additional 3,078 shares during the period. Kestra Advisory Services LLC’s holdings in Cintas were worth $13,792,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. One Capital Management LLC boosted its position in 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 during the period. Richardson Financial Services Inc. raised its position 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 during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Cintas by 0.8% in the first 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 during the last quarter. Woodward Diversified Capital LLC lifted its stake in shares of Cintas by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider’s stock worth $242,000 after buying an additional 59 shares during the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Cintas by 1.4% during the 4th quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after buying an additional 59 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of a number of research analyst reports. Stifel Nicolaus lowered their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Bank of America decreased their price target on shares of Cintas from $215.00 to $200.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Citigroup decreased their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $211.25.

Insider Activity at Cintas

In related news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction on 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 $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 is available through this hyperlink. Insiders own 14.90% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $179.64 on Monday. The stock’s 50-day moving average price is $173.19 and its 200 day moving average price is $182.63. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $71.87 billion, a price-to-earnings ratio of 50.75, a P/E/G ratio of 2.86 and a beta of 0.94. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a $0.45 dividend. 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 dividend payout ratio is presently 50.85%.

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.