Cintas Corp. (CTAS) Position Cut by Smith Asset Management Group LP
Smith Asset Management Group LP lowered its stake in shares of Cintas Corp. (NASDAQ:CTAS) by 33.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,560 shares of the company’s stock after selling 135,755 shares during the period. Smith Asset Management Group LP’s holdings in Cintas Corp. were worth $26,354,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in CTAS. Norges Bank bought a new stake in Cintas Corp. during the fourth quarter valued at $94,087,000. Chevy Chase Trust Holdings Inc. raised its stake in Cintas Corp. by 4.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 73,958 shares of the company’s stock valued at $6,643,000 after buying an additional 3,081 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Cintas Corp. by 11.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,274 shares of the company’s stock valued at $1,911,000 after buying an additional 2,246 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Cintas Corp. by 8.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 21,325 shares of the company’s stock valued at $1,915,000 after buying an additional 1,724 shares during the last quarter. Finally, Boston Advisors LLC raised its stake in Cintas Corp. by 1.9% in the first quarter. Boston Advisors LLC now owns 51,301 shares of the company’s stock valued at $4,607,000 after buying an additional 978 shares during the last quarter. Institutional investors own 65.78% of the company’s stock.
Shares of Cintas Corp. (NASDAQ:CTAS) traded up 0.75% during midday trading on Wednesday, hitting $114.71. The company had a trading volume of 541,659 shares. Cintas Corp. has a 12 month low of $80.00 and a 12 month high of $119.94. The firm has a market capitalization of $11.95 billion, a PE ratio of 18.38 and a beta of 0.85. The company has a 50-day moving average of $113.14 and a 200 day moving average of $98.65.
Cintas Corp. (NASDAQ:CTAS) last posted its earnings results on Tuesday, July 19th. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. Cintas Corp. had a return on equity of 24.16% and a net margin of 14.14%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, analysts expect that Cintas Corp. will post $4.42 EPS for the current fiscal year.
Several equities analysts have commented on CTAS shares. Zacks Investment Research downgraded Cintas Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Nomura reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Cintas Corp. in a research report on Friday, July 15th. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $106.00 price objective (up previously from $95.00) on shares of Cintas Corp. in a research report on Wednesday, July 20th. Barclays PLC cut their price objective on Cintas Corp. from $105.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Cintas Corp. in a research report on Wednesday, August 17th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $112.36.
In other Cintas Corp. news, Director Gerald S. Adolph sold 2,000 shares of Cintas Corp. stock in a transaction on Monday, July 25th. The stock was sold at an average price of $108.12, for a total value of $216,240.00. Following the sale, the director now owns 11,590 shares in the company, valued at $1,253,110.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.10% of the stock is owned by company insiders.
Cintas Corp. 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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