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

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

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Cintas Corporation by 1.2% during the first quarter. Vanguard Group Inc. now owns 9,075,105 shares of the business services provider’s stock valued at $1,148,365,000 after buying an additional 104,454 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Cintas Corporation by 1,737.2% during the first quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock valued at $818,121,000 after buying an additional 6,113,425 shares during the last quarter. State Street Corp grew its holdings in shares of Cintas Corporation by 1.1% during the first quarter. State Street Corp now owns 4,900,672 shares of the business services provider’s stock valued at $620,135,000 after buying an additional 51,747 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Cintas Corporation by 2.0% during the first quarter. AQR Capital Management LLC now owns 1,512,980 shares of the business services provider’s stock valued at $191,452,000 after buying an additional 30,228 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Cintas Corporation by 23.1% during the first quarter. FMR LLC now owns 1,417,504 shares of the business services provider’s stock valued at $179,371,000 after buying an additional 265,971 shares during the last quarter. Hedge funds and other institutional investors own 66.42% of the company’s stock.

Cintas Corporation (CTAS) traded up 0.44% on Friday, reaching $133.72. 325,638 shares of the company’s stock traded hands. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 30.48 and a beta of 0.85. Cintas Corporation has a 12-month low of $102.07 and a 12-month high of $139.74. The stock has a 50 day moving average price of $134.18 and a 200 day moving average price of $126.36.

Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $0.75 EPS for the quarter, missing the consensus estimate of $1.05 by $0.30. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Analysts forecast that Cintas Corporation will post $5.23 EPS for the current year.

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In other news, CFO J. Michael Hansen sold 800 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 13,135 shares in the company, valued at $1,756,018.15. The disclosure for this sale can be found here. 19.10% of the stock is owned by corporate insiders.

A number of research firms have recently commented on CTAS. Zacks Investment Research cut shares of Cintas Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. BidaskClub cut shares of Cintas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Robert W. Baird set a $152.00 target price on shares of Cintas Corporation and gave the stock a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus raised their target price on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Finally, Morgan Stanley restated an “underweight” rating and issued a $117.00 target price (up previously from $107.00) on shares of Cintas Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $135.40.

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




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