Mackay Shields LLC bought a new position in shares of Cintas (NASDAQ:CTAS) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,901 shares of the business services provider’s stock, valued at approximately $2,542,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTAS. Egerton Capital UK LLP bought a new stake in Cintas during the fourth quarter worth $239,268,000. Fred Alger Management Inc. lifted its stake in Cintas by 1,018.9% during the fourth quarter. Fred Alger Management Inc. now owns 592,705 shares of the business services provider’s stock worth $92,361,000 after purchasing an additional 539,735 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Cintas by 50.7% during the fourth quarter. Wells Fargo & Company MN now owns 715,166 shares of the business services provider’s stock worth $111,443,000 after purchasing an additional 240,495 shares during the last quarter. First Trust Advisors LP lifted its stake in Cintas by 99.1% during the fourth quarter. First Trust Advisors LP now owns 299,909 shares of the business services provider’s stock worth $46,735,000 after purchasing an additional 149,251 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Cintas by 733.4% during the fourth quarter. Acadian Asset Management LLC now owns 110,389 shares of the business services provider’s stock worth $17,204,000 after purchasing an additional 97,144 shares during the last quarter. Hedge funds and other institutional investors own 66.34% of the company’s stock.
Several research firms have weighed in on CTAS. Robert W. Baird restated a “buy” rating and set a $200.00 target price on shares of Cintas in a research note on Friday, March 23rd. Zacks Investment Research cut Cintas from a “buy” rating to a “hold” rating in a research note on Friday, March 9th. Morgan Stanley increased their price target on Cintas from $130.00 to $151.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. ValuEngine upgraded Cintas from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Goldman Sachs assumed coverage on Cintas in a research note on Tuesday, March 27th. They issued a “conviction-buy” rating and a $210.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Cintas has an average rating of “Buy” and a consensus target price of $168.55.
In related news, VP Thomas E. Frooman sold 11,500 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 106,926 shares in the company, valued at $18,814,698.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Phillip Holloman sold 7,523 shares of the stock in a transaction 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 sale, the insider now owns 133,491 shares of the company’s stock, valued at $22,861,668.66. The disclosure for this sale can be found here. Corporate insiders own 18.90% of the company’s stock.
Shares of Cintas opened at $182.25 on Friday, according to MarketBeat. Cintas has a 52 week low of $182.10 and a 52 week high of $183.12. The firm has a market capitalization of $19.44 billion, a PE ratio of 40.23, a PEG ratio of 2.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.16 and a quick ratio of 1.86.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, March 22nd. The business services provider reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.10. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Cintas had a return on equity of 22.86% and a net margin of 11.69%. Cintas’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. analysts expect that Cintas will post 5.83 EPS for the current year.
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.
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