Callahan Advisors LLC Sells 2,397 Shares of Cintas Corporation (NASDAQ:CTAS)

Callahan Advisors LLC decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,619 shares of the business services provider's stock after selling 2,397 shares during the period. Callahan Advisors LLC's holdings in Cintas were worth $6,910,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Chapman Investment Management LLC increased its position in shares of Cintas by 0.6% during the first quarter. Chapman Investment Management LLC now owns 24,908 shares of the business services provider's stock worth $5,119,000 after acquiring an additional 137 shares in the last quarter. Stegent Equity Advisors Inc. grew its position in Cintas by 17.6% in the first quarter. Stegent Equity Advisors Inc. now owns 1,834 shares of the business services provider's stock valued at $377,000 after purchasing an additional 274 shares in the last quarter. Xponance Inc. grew its position in Cintas by 1.8% in the first quarter. Xponance Inc. now owns 80,738 shares of the business services provider's stock valued at $16,594,000 after purchasing an additional 1,401 shares in the last quarter. Kesler Norman & Wride LLC grew its position in Cintas by 4.7% in the first quarter. Kesler Norman & Wride LLC now owns 4,652 shares of the business services provider's stock valued at $957,000 after purchasing an additional 209 shares in the last quarter. Finally, WESPAC Advisors LLC bought a new position in Cintas in the first quarter valued at $213,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

Cintas stock traded down $1.12 during midday trading on Friday, hitting $215.44. The company's stock had a trading volume of 1,035,324 shares, compared to its average volume of 1,668,254. Cintas Corporation has a 1-year low of $178.42 and a 1-year high of $229.24. 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 company has a 50-day moving average price of $220.63 and a two-hundred day moving average price of $206.90. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 3.38 and a beta of 1.05.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of analyst reports. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Morgan Stanley increased their price target on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Truist Financial increased their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $219.58.

About Cintas

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.