Olde Wealth Management LLC Makes New $55,000 Investment in Cintas Corporation (NASDAQ:CTAS)

Olde Wealth Management LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 272 shares of the business services provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Investment Advisory Services LLC bought a new position in Cintas in the first quarter worth $812,000. Catalyst Capital Advisors LLC raised its holdings in Cintas by 24.0% in the first quarter. Catalyst Capital Advisors LLC now owns 837 shares of the business services provider’s stock worth $172,000 after purchasing an additional 162 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Cintas by 8.6% in the first quarter. IFM Investors Pty Ltd now owns 72,762 shares of the business services provider’s stock worth $14,980,000 after purchasing an additional 5,776 shares in the last quarter. GF Fund Management CO. LTD. increased its holdings in shares of Cintas by 1.7% during the first quarter. GF Fund Management CO. LTD. now owns 77,739 shares of the business services provider’s stock valued at $15,978,000 after acquiring an additional 1,305 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its holdings in shares of Cintas by 15.2% during the first quarter. OneDigital Investment Advisors LLC now owns 7,619 shares of the business services provider’s stock valued at $1,566,000 after acquiring an additional 1,007 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTAS. Redburn Atlantic downgraded Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Argus upgraded Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. UBS Group raised their price target on Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They set a “buy” rating and a $250.00 price target for the company. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $219.58.

Insider Transactions at Cintas

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

Cintas Price Performance

NASDAQ CTAS opened at $218.83 on Friday. Cintas Corporation has a one year low of $176.60 and a one year high of $229.24. The stock has a 50-day moving average of $220.01 and a 200 day moving average of $206.00. The company has a market capitalization of $88.36 billion, a price-to-earnings ratio of 50.68, a PEG ratio of 3.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72.

Cintas Announces Dividend

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

About Cintas

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.