State Farm Mutual Automobile Insurance Co. Takes $2.54 Million Position in Cintas Corporation (CTAS)

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.

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




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