Arizona State Retirement System Acquires 1,961 Shares of Cintas Corporation (NASDAQ:CTAS)

Arizona State Retirement System boosted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,502 shares of the business services provider's stock after buying an additional 1,961 shares during the period. Arizona State Retirement System's holdings in Cintas were worth $21,889,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CTAS. Brighton Jones LLC increased its position in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares during the period. Bank Pictet & Cie Europe AG increased its position in Cintas by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after buying an additional 3,504 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Cintas during the 4th quarter worth approximately $295,000. HighTower Advisors LLC grew its holdings in shares of Cintas by 19.8% during the 4th quarter. HighTower Advisors LLC now owns 85,367 shares of the business services provider's stock worth $15,597,000 after purchasing an additional 14,102 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Cintas by 27.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,353 shares of the business services provider's stock worth $1,343,000 after purchasing an additional 1,586 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTAS. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Bank of America began coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $219.58.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the transaction, the director owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.00% of the company's stock.

Cintas Price Performance

Shares of CTAS stock opened at $215.44 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The firm has a market cap of $86.99 billion, a price-to-earnings ratio of 49.90, a P/E/G ratio of 3.36 and a beta of 1.05. The stock's fifty day simple moving average is $220.63 and its 200 day simple moving average is $207.03. Cintas Corporation has a one year low of $178.42 and a one year high of $229.24.

Cintas Company 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.

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