Bp Plc cut its position in shares of Cintas Co. (NASDAQ:CTAS) by 58.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the business services provider’s stock after selling 14,000 shares during the quarter. Bp Plc’s holdings in Cintas were worth $2,021,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of CTAS. Lunia Capital LP purchased a new stake in shares of Cintas during the fourth quarter worth about $15,696,000. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter worth about $140,888,000. American Century Companies Inc. grew its holdings in shares of Cintas by 97.6% during the fourth quarter. American Century Companies Inc. now owns 1,172,508 shares of the business services provider’s stock worth $196,970,000 after buying an additional 579,155 shares in the last quarter. Waratah Capital Advisors Ltd. purchased a new stake in shares of Cintas during the fourth quarter worth about $40,285,000. Finally, Brown Advisory Inc. grew its holdings in shares of Cintas by 13.7% during the fourth quarter. Brown Advisory Inc. now owns 1,894,686 shares of the business services provider’s stock worth $318,289,000 after buying an additional 228,596 shares in the last quarter. Institutional investors and hedge funds own 67.15% of the company’s stock.
Several equities research analysts recently issued reports on CTAS shares. BidaskClub cut shares of Cintas from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. ValuEngine raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a research report on Thursday, May 16th. JPMorgan Chase & Co. raised their target price on shares of Cintas from $210.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their target price on shares of Cintas from $163.00 to $172.00 and gave the stock an “underweight” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $200.05.
CTAS opened at $227.01 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.89 and a current ratio of 2.24. Cintas Co. has a 1 year low of $155.98 and a 1 year high of $227.64. The company has a market capitalization of $23.60 billion, a P/E ratio of 38.22, a P/E/G ratio of 2.46 and a beta of 1.08.
Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.13. The business had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $1.69 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The company’s quarterly revenue was down 99.9% on a year-over-year basis. During the same period last year, the company earned $1.37 earnings per share. As a group, equities research analysts anticipate that Cintas Co. will post 7.46 EPS for the current year.
In other Cintas news, Director Joseph Scaminace sold 6,255 shares of Cintas stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the transaction, the director now directly owns 7,973 shares of the company’s stock, valued at $1,771,600.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas E. Frooman sold 2,415 shares of Cintas stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $207.81, for a total transaction of $501,861.15. Following the transaction, the vice president now directly owns 122,251 shares in the company, valued at $25,404,980.31. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
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 and First Aid and Safety Services 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.
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