Cintas Corporation (NASDAQ:CTAS) Position Increased by Crew Capital Management Ltd.

Crew Capital Management Ltd. increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,822 shares of the business services provider’s stock after acquiring an additional 321 shares during the period. Cintas comprises approximately 1.0% of Crew Capital Management Ltd.’s portfolio, making the stock its 25th biggest holding. Crew Capital Management Ltd.’s holdings in Cintas were worth $1,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Argentarii LLC lifted its position in shares of Cintas by 44.6% in the first quarter. Argentarii LLC now owns 7,327 shares of the business services provider’s stock worth $1,506,000 after buying an additional 2,259 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in shares of Cintas by 25.5% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 1,572 shares of the business services provider’s stock worth $323,000 after buying an additional 319 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Cintas by 22.6% in the first quarter. Concurrent Investment Advisors LLC now owns 13,197 shares of the business services provider’s stock worth $2,712,000 after buying an additional 2,429 shares during the last quarter. World Investment Advisors lifted its position in shares of Cintas by 27.5% in the first quarter. World Investment Advisors now owns 12,096 shares of the business services provider’s stock worth $2,486,000 after buying an additional 2,608 shares during the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in shares of Cintas in the first quarter worth about $55,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Trading Up 1.5%

Shares of CTAS opened at $218.83 on Friday. Cintas Corporation has a 12-month low of $176.60 and a 12-month high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $88.36 billion, a price-to-earnings ratio of 50.68, a P/E/G ratio of 3.42 and a beta of 1.05. The stock’s 50-day moving average price is $220.01 and its 200 day moving average price is $206.00.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas’s payout ratio is 36.11%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley boosted their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 price objective on the stock. Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $219.58.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the sale, the director directly owned 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jim Rozakis sold 2,000 shares of Cintas stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the sale, the chief operating officer directly owned 256,528 shares in the company, valued at $48,835,235.36. The trade was a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.