State Farm Mutual Automobile Insurance Co. bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,136 shares of the business services provider’s stock, valued at approximately $2,538,000.
A number of other hedge funds have also recently made changes to their positions in CTAS. BlackRock Inc. lifted its stake in Cintas Corporation by 1,737.2% in the first quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock valued at $818,121,000 after acquiring an additional 6,113,425 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Cintas Corporation in the first quarter valued at $57,378,000. Marshall Wace North America L.P. bought a new position in shares of Cintas Corporation in the first quarter valued at about $57,378,000. Artisan Partners Limited Partnership raised its position in shares of Cintas Corporation by 34.4% in the first quarter. Artisan Partners Limited Partnership now owns 1,304,321 shares of the business services provider’s stock valued at $165,049,000 after purchasing an additional 333,957 shares during the period. Finally, Morgan Stanley raised its position in shares of Cintas Corporation by 128.7% in the first quarter. Morgan Stanley now owns 535,838 shares of the business services provider’s stock valued at $67,804,000 after purchasing an additional 301,551 shares during the period. Hedge funds and other institutional investors own 66.42% of the company’s stock.
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Several brokerages have recently weighed in on CTAS. BidaskClub raised shares of Cintas Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Zacks Investment Research lowered shares of Cintas Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. Morgan Stanley reaffirmed an “underweight” rating and set a $117.00 price target (up from $107.00) on shares of Cintas Corporation in a research report on Tuesday, July 25th. Nomura lowered shares of Cintas Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus raised their price target on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Cintas Corporation currently has a consensus rating of “Hold” and a consensus target price of $135.40.
In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were 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 $1,756,018.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO J. Michael Hansen sold 800 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $130.75, for a total value of $104,600.00. Following the sale, the chief financial officer now directly owns 54,370 shares of the company’s stock, valued at approximately $7,108,877.50. The disclosure for this sale can be found here. 19.10% of the stock is owned by company insiders.
Cintas Corporation (NASDAQ:CTAS) traded down 0.34% during midday trading on Friday, hitting $134.15. 882,320 shares of the stock were exchanged. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $139.74. The company’s 50 day moving average is $133.81 and its 200 day moving average is $126.93. The company has a market capitalization of $14.14 billion, a P/E ratio of 30.58 and a beta of 0.85.
Cintas Corporation (NASDAQ:CTAS) last posted its quarterly earnings data 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 return on equity of 23.38% and a net margin of 8.90%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts predict that Cintas Corporation will post $5.23 earnings per share for the current fiscal year.
Cintas Corporation Company 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.
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