Summit Global Investments reduced its holdings in shares of Cintas Co. (NASDAQ:CTAS – Free Report) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 516 shares of the business services provider’s stock after selling 26 shares during the period. Summit Global Investments’ holdings in Cintas were worth $257,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Aptus Capital Advisors LLC boosted its holdings in shares of Cintas by 223.3% in the first quarter. Aptus Capital Advisors LLC now owns 1,610 shares of the business services provider’s stock valued at $745,000 after acquiring an additional 1,112 shares in the last quarter. Randolph Co Inc boosted its holdings in Cintas by 64.9% during the second quarter. Randolph Co Inc now owns 69,330 shares of the business services provider’s stock worth $34,463,000 after buying an additional 27,293 shares in the last quarter. Simplicity Solutions LLC boosted its holdings in Cintas by 41.5% during the first quarter. Simplicity Solutions LLC now owns 1,657 shares of the business services provider’s stock worth $767,000 after buying an additional 486 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Cintas by 11.2% during the first quarter. Valeo Financial Advisors LLC now owns 1,583 shares of the business services provider’s stock worth $732,000 after buying an additional 159 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Cintas by 2.8% during the first quarter. Global Retirement Partners LLC now owns 4,260 shares of the business services provider’s stock worth $1,951,000 after buying an additional 118 shares in the last quarter. 62.26% of the stock is owned by hedge funds and other institutional investors.
Cintas Price Performance
CTAS opened at $481.01 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.56 and a debt-to-equity ratio of 0.61. Cintas Co. has a 52-week low of $370.93 and a 52-week high of $524.76. The company has a 50 day moving average of $498.86 and a two-hundred day moving average of $480.37. The company has a market cap of $49.27 billion, a P/E ratio of 36.19, a P/E/G ratio of 2.82 and a beta of 1.30.
Cintas Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from Cintas’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, August 14th. Cintas’s dividend payout ratio is 40.63%.
Insiders Place Their Bets
In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $496.25, for a total transaction of $1,332,927.50. Following the sale, the director now directly owns 30,066 shares of the company’s stock, valued at $14,920,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $496.25, for a total transaction of $1,332,927.50. Following the sale, the director now directly owns 30,066 shares of the company’s stock, valued at $14,920,252.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael Lawrence Thompson sold 5,050 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the sale, the chief accounting officer now directly owns 27,326 shares in the company, valued at $13,617,912.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,820 shares of company stock valued at $4,926,731. Company insiders own 14.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $525.00 target price on shares of Cintas in a research report on Wednesday, September 27th. Bank of America cut their target price on shares of Cintas from $580.00 to $565.00 in a research report on Wednesday, September 27th. Robert W. Baird boosted their price objective on shares of Cintas from $524.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, September 27th. Citigroup lowered shares of Cintas from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $540.00 to $550.00 in a research report on Monday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Cintas from $470.00 to $500.00 and gave the company an “equal weight” rating in a research report on Friday, July 14th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.36.
View Our Latest Stock Report on Cintas
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.
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