Cintas Corporation (CTAS) Position Lowered by GAM Holding AG
GAM Holding AG reduced its position in shares of Cintas Corporation (NASDAQ:CTAS) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,686 shares of the business services provider’s stock after selling 1,617 shares during the period. GAM Holding AG’s holdings in Cintas Corporation were worth $1,977,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Cintas Corporation by 19.4% in the first quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock worth $104,000 after buying an additional 140 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Cintas Corporation by 11.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,023 shares of the business services provider’s stock worth $125,000 after buying an additional 106 shares during the last quarter. First Personal Financial Services boosted its position in shares of Cintas Corporation by 0.8% in the second quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock worth $145,000 after buying an additional 9 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Cintas Corporation by 8.1% in the first quarter. Van ECK Associates Corp now owns 1,214 shares of the business services provider’s stock worth $154,000 after buying an additional 91 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Cintas Corporation by 39.7% in the first quarter. Global X Management Co. LLC now owns 1,559 shares of the business services provider’s stock worth $197,000 after buying an additional 443 shares during the last quarter. 66.40% of the stock is owned by institutional investors and hedge funds.
Cintas Corporation (CTAS) opened at 132.97 on Wednesday. The firm has a market cap of $14.02 billion, a PE ratio of 30.31 and a beta of 0.84. The firm’s 50 day moving average price is $132.10 and its 200-day moving average price is $125.28. Cintas Corporation has a 52 week low of $102.07 and a 52 week high of $139.74.
Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.05 by $0.30. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. Cintas Corporation had a return on equity of 23.38% and a net margin of 8.90%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 earnings per share. On average, analysts forecast that Cintas Corporation will post $5.23 EPS for the current year.
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A number of brokerages recently weighed in on CTAS. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday, August 24th. BidaskClub upgraded Cintas Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Robert W. Baird set a $152.00 target price on Cintas Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Stifel Nicolaus lifted their target price on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 21st. Finally, Morgan Stanley reiterated 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 investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $135.40.
In related news, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the transaction, the director now owns 13,135 shares in the company, valued at approximately $1,756,018.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO J. Michael Hansen sold 800 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the completion of the transaction, the chief financial officer now owns 54,370 shares in the company, valued at approximately $7,108,877.50. The disclosure for this sale can be found here. 19.10% of the stock is owned by insiders.
About Cintas Corporation
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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