Cintas Corporation (NASDAQ:CTAS) Shares Acquired by Allworth Financial LP

Allworth Financial LP raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 107.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,045 shares of the business services provider's stock after buying an additional 6,245 shares during the quarter. Allworth Financial LP's holdings in Cintas were worth $2,526,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Cintas in the fourth quarter valued at about $877,216,000. GAMMA Investing LLC lifted its position in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $196,057,000. Northern Trust Corp lifted its position in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Cintas by 26.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock traded down $3.66 during midday trading on Tuesday, reaching $213.24. The company's stock had a trading volume of 1,219,282 shares, compared to its average volume of 1,665,885. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The stock's 50 day simple moving average is $220.74 and its 200 day simple moving average is $207.42. Cintas Corporation has a fifty-two week low of $178.42 and a fifty-two week high of $229.24. The firm has a market capitalization of $86.10 billion, a PE ratio of 49.39, a P/E/G ratio of 3.36 and a beta of 1.05.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. Truist Financial raised their price objective on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Morgan Stanley raised their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average target price of $220.96.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. 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, as well as sells uniforms.