Cintas Corporation (NASDAQ:CTAS) Shares Acquired by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. lifted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 51.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,967 shares of the business services provider's stock after acquiring an additional 3,404 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Cintas were worth $2,049,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new position in Cintas during the 4th quarter valued at about $29,000. IAG Wealth Partners LLC grew its position in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after buying an additional 104 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after buying an additional 134 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Cintas in the 4th quarter worth approximately $37,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Cintas in the 4th quarter worth approximately $40,000. Institutional investors own 63.46% of the company's stock.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of the company's 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 of the company's stock, valued at approximately $5,647,979.84. This represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 15.00% of the company's stock.

Cintas Price Performance

Shares of Cintas stock traded down $0.73 during trading hours on Wednesday, reaching $214.57. 155,361 shares of the company's stock were exchanged, compared to its average volume of 1,663,215. Cintas Corporation has a 1 year low of $177.33 and a 1 year high of $229.24. The company has a market capitalization of $86.64 billion, a P/E ratio of 49.74, a price-to-earnings-growth ratio of 3.39 and a beta of 1.05. The business has a fifty day moving average of $220.32 and a two-hundred day moving average of $206.44. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research report on Thursday, May 1st. Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price objective (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $219.58.

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.