State Farm Mutual Automobile Insurance Co. Purchases New Position in Cintas Corporation (CTAS)

State Farm Mutual Automobile Insurance Co. bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,136 shares of the business services provider’s stock, valued at approximately $2,538,000.

Other hedge funds have also bought and sold shares of the company. Lincoln National Corp lifted its holdings in shares of Cintas Corporation by 0.8% in the first quarter. Lincoln National Corp now owns 1,845 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 14 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Cintas Corporation by 35.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 266,155 shares of the business services provider’s stock valued at $33,546,000 after purchasing an additional 69,483 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Cintas Corporation by 0.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,861 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 13 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Cintas Corporation by 3.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,485 shares of the business services provider’s stock valued at $34,092,000 after purchasing an additional 9,351 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Cintas Corporation by 27.5% in the first quarter. Fifth Third Bancorp now owns 81,484 shares of the business services provider’s stock valued at $10,311,000 after purchasing an additional 17,567 shares in the last quarter. Hedge funds and other institutional investors own 64.76% of the company’s stock.

A number of brokerages have recently commented on CTAS. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Thursday. BidaskClub lowered Cintas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Robert W. Baird set a $152.00 price target on Cintas Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus boosted their price target on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 21st. Finally, Morgan Stanley reiterated an “underweight” rating and set a $117.00 target price (up previously from $107.00) on shares of Cintas Corporation in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Cintas Corporation presently has an average rating of “Hold” and an average target price of $135.70.

Shares of Cintas Corporation (NASDAQ CTAS) opened at 136.65 on Friday. Cintas Corporation has a 12-month low of $102.07 and a 12-month high of $139.74. The company’s 50-day moving average price is $133.77 and its 200 day moving average price is $127.29. The company has a market cap of $14.41 billion, a price-to-earnings ratio of 31.15 and a beta of 0.85.

Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.30). Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business posted $1.08 EPS. Cintas Corporation’s revenue was up 23.1% compared to the same quarter last year. Equities analysts predict that Cintas Corporation will post $5.22 earnings per share for the current year.

In other Cintas Corporation news, CFO J. Michael Hansen sold 800 shares of Cintas Corporation stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the transaction, the chief financial officer now owns 54,370 shares of the company’s stock, valued at approximately $7,108,877.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gerald S. Adolph sold 2,000 shares of Cintas Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total transaction of $267,380.00. Following the transaction, the director now directly owns 13,135 shares in the company, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.

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Cintas Corporation Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

Institutional Ownership by Quarter for Cintas Corporation (NASDAQ:CTAS)




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