Cintas Corporation $CTAS Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 1,309.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 409,096 shares of the business services provider’s stock after acquiring an additional 380,079 shares during the period. DAVENPORT & Co LLC owned approximately 0.10% of Cintas worth $77,181,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Beacon Investment Advisors LLC boosted its position in shares of Cintas by 3.2% during the 2nd quarter. Beacon Investment Advisors LLC now owns 1,725 shares of the business services provider’s stock worth $381,000 after purchasing an additional 53 shares during the period. CreativeOne Wealth LLC raised its position in Cintas by 0.3% in the second quarter. CreativeOne Wealth LLC now owns 16,697 shares of the business services provider’s stock valued at $3,721,000 after purchasing an additional 54 shares during the period. Woodward Diversified Capital LLC lifted its stake in Cintas by 4.7% during the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock worth $252,000 after purchasing an additional 55 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Cintas by 0.8% during the third quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock worth $1,415,000 after buying an additional 56 shares during the period. Finally, Oakworth Capital Inc. boosted its position in shares of Cintas by 4.8% during the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock worth $267,000 after buying an additional 60 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTAS. UBS Group reiterated a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Robert W. Baird upgraded 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. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and lifted their target price for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Bank of America initiated coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target on the stock. Finally, Citigroup reissued a “sell” rating and set a $181.00 price target (up from $176.00) on shares of Cintas in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $220.25.

Cintas Stock Down 1.7%

Shares of NASDAQ CTAS opened at $178.13 on Wednesday. The stock has a market cap of $71.23 billion, a P/E ratio of 51.93, a PEG ratio of 3.27 and a beta of 0.95. The business’s fifty day simple moving average is $194.42 and its 200-day simple moving average is $192.08. Cintas Corporation has a 12-month low of $177.53 and a 12-month high of $229.24. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 52.48%.

About Cintas

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.