Cintas Corporation $CTAS Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in Cintas Corporation (NASDAQ:CTAS) by 71.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,575 shares of the business services provider’s stock after buying an additional 24,069 shares during the period. QRG Capital Management Inc.’s holdings in Cintas were worth $9,738,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new position in Cintas during the 4th quarter worth $25,000. First United Bank & Trust purchased a new position in Cintas during the first quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in Cintas in the fourth quarter valued at about $25,000. Camelot Portfolios LLC purchased a new stake in Cintas in the 4th quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cintas in the 4th quarter valued at approximately $26,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus cut their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Weiss Ratings downgraded Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. 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. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Finally, Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average target price of $211.25.

Cintas Stock Performance

NASDAQ CTAS opened at $181.37 on Friday. The business has a 50 day moving average price of $172.75 and a 200 day moving average price of $182.99. The company has a market capitalization of $72.56 billion, a P/E ratio of 51.23, a PEG ratio of 2.89 and a beta of 0.94. Cintas Corporation has a 1-year low of $161.16 and a 1-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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s payout ratio is 50.85%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.