Moran Wealth Management LLC Reduces Holdings in Cintas Corporation $CTAS

Moran Wealth Management LLC decreased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 5.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,837 shares of the business services provider’s stock after selling 3,597 shares during the period. Moran Wealth Management LLC’s holdings in Cintas were worth $9,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nemes Rush Group LLC bought a new stake in shares of Cintas in the 4th quarter worth about $25,000. First United Bank & Trust bought a new position in Cintas during the 1st quarter valued at about $25,000. Swiss RE Ltd. bought a new position in Cintas during the 4th quarter valued at about $25,000. Camelot Portfolios LLC purchased a new stake in Cintas in the 4th quarter worth about $26,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cintas in the 4th quarter worth about $26,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Stifel Nicolaus dropped their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Bank of America reduced their price target on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Citigroup decreased their price target on Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. Finally, Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $211.25.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.90% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $181.37 on Friday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The firm’s 50-day moving average is $172.75 and its 200 day moving average is $182.99. The company has a market capitalization of $72.56 billion, a PE ratio of 51.23, a P/E/G ratio of 2.89 and a beta of 0.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio is currently 50.85%.

Cintas 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.