California State Teachers Retirement System reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,102 shares of the business services provider’s stock after selling 3,107 shares during the period. California State Teachers Retirement System owned about 0.13% of Cintas worth $24,240,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC purchased a new stake in Cintas in the 1st quarter worth about $114,000. Synovus Financial Corp purchased a new stake in Cintas in the 1st quarter worth about $141,000. CenterStar Asset Management LLC purchased a new stake in Cintas in the 1st quarter worth about $149,000. Bedel Financial Consulting Inc. purchased a new stake in Cintas in the 1st quarter worth about $197,000. Finally, Mcmillion Capital Management Inc. purchased a new stake in Cintas in the 1st quarter worth about $205,000. 66.75% of the stock is owned by hedge funds and other institutional investors.

Shares of Cintas opened at $190.55 on Wednesday, MarketBeat reports. The company has a current ratio of 2.16, a quick ratio of 1.86 and a debt-to-equity ratio of 0.88. Cintas Co. has a twelve month low of $123.42 and a twelve month high of $194.09. The company has a market capitalization of $20.39 billion, a P/E ratio of 42.06, a P/E/G ratio of 2.28 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, March 22nd. The business services provider reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.10. Cintas had a return on equity of 22.86% and a net margin of 11.69%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the business earned $1.11 EPS. The firm’s revenue was up 26.6% compared to the same quarter last year. research analysts forecast that Cintas Co. will post 5.83 EPS for the current year.

In related news, VP Thomas E. Frooman sold 11,500 shares of the firm’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $175.96, for a total value of $2,023,540.00. Following the transaction, the vice president now directly owns 106,926 shares of the company’s stock, valued at approximately $18,814,698.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Phillip Holloman sold 7,523 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $171.26, for a total value of $1,288,388.98. Following the completion of the transaction, the insider now directly owns 133,491 shares in the company, valued at $22,861,668.66. The disclosure for this sale can be found here. 18.90% of the stock is currently owned by company insiders.

CTAS has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on Cintas from $183.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, March 23rd. Zacks Investment Research downgraded Cintas from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Morgan Stanley raised their price target on Cintas from $151.00 to $152.00 and gave the stock an “underweight” rating in a research note on Friday, March 23rd. Goldman Sachs Group initiated coverage on Cintas in a research note on Tuesday, March 27th. They set a “conviction-buy” rating and a $210.00 price target for the company. Finally, ValuEngine downgraded Cintas from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $169.36.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services; First Aid and Safety Services; and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.