E. Ohman J or Asset Management AB Has $2.32 Million Stock Holdings in Cintas Corporation $CTAS

E. Ohman J or Asset Management AB reduced its position in shares of Cintas Corporation (NASDAQ:CTAS) by 21.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,351 shares of the business services provider’s stock after selling 3,349 shares during the period. E. Ohman J or Asset Management AB’s holdings in Cintas were worth $2,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Beacon Investment Advisors LLC grew its stake in Cintas by 3.2% during the second quarter. Beacon Investment Advisors LLC now owns 1,725 shares of the business services provider’s stock worth $381,000 after buying an additional 53 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of Cintas by 0.3% in the second quarter. CreativeOne Wealth LLC now owns 16,697 shares of the business services provider’s stock valued at $3,721,000 after acquiring an additional 54 shares during the last quarter. Woodward Diversified Capital LLC boosted its holdings in shares of Cintas by 4.7% in the 3rd quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock worth $252,000 after acquiring an additional 55 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of Cintas by 0.8% in the 3rd quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock worth $1,415,000 after acquiring an additional 56 shares in the last quarter. Finally, Oakworth Capital Inc. grew its position in Cintas by 4.8% during the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock worth $267,000 after acquiring an additional 60 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 1.7%

CTAS opened at $178.13 on Wednesday. The firm has a 50 day simple moving average of $194.42 and a 200 day simple moving average of $192.08. Cintas Corporation has a fifty-two week low of $177.53 and a fifty-two week high of $229.24. The company has a market cap of $71.23 billion, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s payout ratio is presently 52.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised Cintas from a “cautious” rating to an “overweight” rating and raised their price target for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a research note on Friday, December 19th. Bank of America assumed coverage on Cintas in a report on Tuesday, February 17th. They set a “neutral” rating and a $215.00 target price on the stock. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a report on Wednesday, March 11th. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.25.

About Cintas

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.