Cintas Corporation $CTAS Shares Purchased by Midwest Trust Co

Midwest Trust Co raised its stake in Cintas Corporation (NASDAQ:CTAS) by 28.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 86,332 shares of the business services provider’s stock after acquiring an additional 18,904 shares during the period. Midwest Trust Co’s holdings in Cintas were worth $14,602,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CTAS. One Capital Management LLC grew its holdings in shares of Cintas by 0.9% in the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after acquiring an additional 53 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Cintas by 1.1% during 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 last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Cintas by 0.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock valued at $1,236,000 after purchasing an additional 58 shares during the last quarter. Woodward Diversified Capital LLC boosted its position in shares of 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 purchasing an additional 59 shares during the period. Finally, Mather Group LLC. boosted its position in shares of 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 purchasing an additional 59 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

CTAS opened at $179.64 on Monday. The stock has a fifty day moving average price of $173.19 and a 200 day moving average price of $182.63. 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 Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. The stock has a market cap of $71.87 billion, a price-to-earnings ratio of 50.75, a PEG ratio of 2.86 and a beta of 0.94.

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 issued 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 was Friday, May 15th. Cintas’s payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction that occurred 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 sale, the director 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 14.90% of the stock is currently owned by corporate insiders.

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.