Sumitomo Mitsui Trust Group Inc. Has $147.58 Million Holdings in Cintas Corporation $CTAS

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 4.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 872,529 shares of the business services provider’s stock after selling 43,415 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cintas were worth $147,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in shares of Cintas in the 4th quarter valued at $25,000. First United Bank & Trust acquired a new position in shares of Cintas during the 1st quarter valued at $25,000. Swiss RE Ltd. bought a new position in Cintas during the fourth quarter worth $25,000. Camelot Portfolios LLC bought a new position in Cintas during the fourth quarter worth $26,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Cintas in the fourth quarter worth $26,000. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Cintas Stock Performance

NASDAQ:CTAS opened at $177.69 on Friday. The stock has a market cap of $71.09 billion, a P/E ratio of 50.19, a PEG ratio of 2.87 and a beta of 0.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $173.07 and its two-hundred day moving average price is $182.71. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75.

Cintas Announces Dividend

The business also recently declared 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 of this dividend was Friday, May 15th. Cintas’s payout ratio is currently 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction 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 sale, the director owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 14.90% of the stock is owned by insiders.

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.