PKO Investment Management Joint Stock Co Has $1.86 Million Position in Cintas Corporation $CTAS

PKO Investment Management Joint Stock Co lowered its holdings in Cintas Corporation (NASDAQ:CTAS) by 45.0% in the first quarter, Holdings Channel.com reports. The firm owned 11,000 shares of the business services provider’s stock after selling 9,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Cintas were worth $1,861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp grew its stake in Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after acquiring an additional 210,477 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after purchasing an additional 97,220 shares in the last quarter. Norges Bank purchased a new stake in shares of Cintas in the fourth quarter worth approximately $923,672,000. Morgan Stanley boosted its holdings in shares of Cintas by 0.8% during the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of Cintas by 6.2% during the fourth quarter. Nordea Investment Management AB now owns 2,729,394 shares of the business services provider’s stock worth $517,466,000 after purchasing an additional 158,785 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity

In related news, Director Ronald W. Tysoe sold 4,666 shares of Cintas 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of several research reports. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research note on Wednesday, March 11th. Stifel Nicolaus decreased their target price on shares of 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 lowered shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group restated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Truist Financial dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $215.92.

Cintas Trading Down 0.8%

NASDAQ:CTAS opened at $169.45 on Tuesday. The company has a market capitalization of $67.80 billion, a P/E ratio of 47.87, a P/E/G ratio of 2.72 and a beta of 0.94. The stock’s 50 day moving average price is $173.40 and its 200 day moving average price is $183.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $226.75.

Cintas (NASDAQ:CTAS) last posted its 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. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 earnings per share. On average, research analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm 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. The ex-dividend date was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

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.