Cintas Corporation $CTAS Shares Purchased by Tobam

Tobam increased its position in Cintas Corporation (NASDAQ:CTAS) by 21,826.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,043 shares of the business services provider’s stock after acquiring an additional 5,020 shares during the period. Tobam’s holdings in Cintas were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CTAS. Nemes Rush Group LLC acquired a new position in shares of Cintas in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new stake in shares of Cintas during the fourth quarter worth about $25,000. Camelot Portfolios LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new stake in Cintas in the fourth quarter valued at approximately $26,000. Finally, Key Capital Management INC purchased a new stake in Cintas in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CTAS. UBS Group reissued a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Truist Financial cut their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. Finally, Citigroup reduced 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $215.92.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of the business’s stock in a transaction on Monday, April 20th. The shares were 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 in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Cintas Price Performance

Cintas stock opened at $170.85 on Friday. The business’s 50-day moving average price is $173.50 and its 200 day moving average price is $183.88. 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 cap of $68.36 billion, a price-to-earnings ratio of 48.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the company posted $1.13 earnings per share. Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently announced 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 1.1%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s payout ratio is 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.