Decatur Capital Management Inc. reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,202 shares of the business services provider’s stock after selling 699 shares during the period. Decatur Capital Management Inc.’s holdings in Cintas were worth $7,404,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CTAS. OppenheimerFunds Inc. raised its position in Cintas by 336.6% during the first quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock valued at $132,061,000 after purchasing an additional 503,747 shares in the last quarter. FMR LLC raised its position in Cintas by 21.2% during the first quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock valued at $550,345,000 after purchasing an additional 475,757 shares in the last quarter. Neuberger Berman Group LLC raised its position in Cintas by 145.6% during the first quarter. Neuberger Berman Group LLC now owns 409,863 shares of the business services provider’s stock valued at $82,837,000 after purchasing an additional 242,991 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Cintas by 124.7% during the first quarter. The Manufacturers Life Insurance Company now owns 322,587 shares of the business services provider’s stock valued at $65,199,000 after purchasing an additional 179,023 shares in the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in Cintas during the first quarter valued at approximately $35,773,000. Institutional investors and hedge funds own 66.86% of the company’s stock.
Several brokerages have recently issued reports on CTAS. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $273.00 price target for the company in a report on Thursday, July 18th. Nomura upped their price target on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. William Blair reiterated a “buy” rating on shares of Cintas in a report on Thursday, June 20th. BidaskClub downgraded shares of Cintas from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Credit Suisse Group upped their price target on shares of Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a 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 given a buy rating to the company’s stock. Cintas currently has an average rating of “Buy” and a consensus price target of $228.06.
In related news, insider Michael Lawrence Thompson sold 4,888 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 69,053 shares in the company, valued at $18,008,331.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,401,224.67. Following the completion of the sale, the vice president now owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:CTAS traded down $0.62 during trading on Friday, hitting $258.41. 474,125 shares of the company were exchanged, compared to its average volume of 634,578. The stock has a 50 day simple moving average of $245.01. The firm has a market cap of $26.55 billion, a P/E ratio of 34.00, a P/E/G ratio of 3.01 and a beta of 0.98. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. Cintas Co. has a 1-year low of $155.98 and a 1-year high of $264.29.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results 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. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. On average, equities research analysts expect that Cintas Co. will post 8.45 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 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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