Swedbank AB Has $37.45 Million Stock Position in Cintas Corporation $CTAS

Swedbank AB lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 3.9% during the first quarter, HoldingsChannel reports. The firm owned 221,411 shares of the business services provider’s stock after selling 8,882 shares during the quarter. Swedbank AB’s holdings in Cintas were worth $37,449,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CTAS. Norges Bank bought a new stake in Cintas during the fourth quarter worth $923,672,000. Two Sigma Investments LP grew its position in shares of Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after acquiring an additional 998,963 shares during the period. SG Americas Securities LLC increased its stake in shares of Cintas by 2,653.0% during the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock worth $188,640,000 after purchasing an additional 966,597 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Cintas by 275.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after purchasing an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP increased its stake in shares of Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent analyst reports. UBS Group reiterated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Bank of America lowered their price target on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Citigroup cut their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. 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 research note on Wednesday, March 11th. Finally, Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $211.25.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the transaction, the director owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. This represents a 17.21% 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. 14.90% of the stock is currently owned by corporate insiders.

Cintas Stock Performance

NASDAQ CTAS opened at $180.17 on Thursday. The firm has a 50-day moving average of $173.00 and a 200-day moving average of $182.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a market cap of $72.08 billion, a PE ratio of 50.90, a P/E/G ratio of 2.90 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio 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.