Cintas Co. (NASDAQ:CTAS) Stock Position Lifted by Point72 Hong Kong Ltd

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Point72 Hong Kong Ltd lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 349.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,946 shares of the business services provider’s stock after purchasing an additional 1,513 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Cintas were worth $462,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CTAS. Raymond James Financial Services Advisors Inc. boosted its stake in Cintas by 25.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,732 shares of the business services provider’s stock valued at $1,563,000 after buying an additional 1,570 shares in the last quarter. Raymond James & Associates boosted its stake in Cintas by 3.8% during the first quarter. Raymond James & Associates now owns 50,801 shares of the business services provider’s stock valued at $10,268,000 after buying an additional 1,840 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Cintas by 42.9% during the first quarter. JPMorgan Chase & Co. now owns 252,767 shares of the business services provider’s stock valued at $51,087,000 after buying an additional 75,892 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Cintas by 20.2% in the 1st quarter. TD Asset Management Inc. now owns 81,388 shares of the business services provider’s stock valued at $16,449,000 after purchasing an additional 13,670 shares during the period. Finally, Keybank National Association OH boosted its position in shares of Cintas by 24.6% in the 1st quarter. Keybank National Association OH now owns 5,596 shares of the business services provider’s stock valued at $1,131,000 after purchasing an additional 1,104 shares during the period. 67.78% of the stock is owned by institutional investors.

In other news, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the completion of the sale, the vice president now directly owns 127,624 shares of the company’s stock, valued at approximately $33,283,062.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,274,741.52. Following the sale, the insider now directly owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The disclosure for this sale can be found here. 19.10% of the stock is owned by company insiders.

Cintas stock traded up $2.36 during mid-day trading on Friday, hitting $253.78. The company’s stock had a trading volume of 713,436 shares, compared to its average volume of 556,074. The firm’s 50 day moving average is $259.40 and its 200 day moving average is $232.75. The company has a market cap of $26.36 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.69. Cintas Co. has a 52-week low of $155.98 and a 52-week high of $270.36.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.13. Cintas had a return on equity of 26.77% and a net margin of 12.80%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business earned $1.77 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts forecast that Cintas Co. will post 8.45 EPS for the current year.

A number of research firms recently weighed in on CTAS. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $273.00 price target for the company in a research report on Thursday, July 18th. Credit Suisse Group increased their price target on Cintas from $160.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Barclays reiterated a “buy” rating and issued a $265.00 price target on shares of Cintas in a research report on Thursday, July 18th. BidaskClub lowered Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada increased their price target on Cintas to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $241.44.

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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