Choreo LLC Sells 1,225 Shares of Cintas Corporation (NASDAQ:CTAS)

Choreo LLC decreased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,452 shares of the business services provider's stock after selling 1,225 shares during the period. Choreo LLC's holdings in Cintas were worth $1,737,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CTAS. Meeder Asset Management Inc. grew its stake in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its stake in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares in the last quarter. Washington Trust Advisors Inc. purchased a new position in Cintas during the first quarter valued at approximately $46,000. Olde Wealth Management LLC purchased a new position in Cintas during the first quarter valued at approximately $55,000. Finally, Physician Wealth Advisors Inc. purchased a new position in Cintas during the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target on the stock. UBS Group increased their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley increased their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Finally, Bank of America assumed coverage on shares of Cintas in a report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $224.54.

Cintas Stock Down 0.9%

Shares of Cintas stock traded down $2.08 during trading on Monday, hitting $221.49. The company's stock had a trading volume of 244,850 shares, compared to its average volume of 1,712,983. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a fifty day simple moving average of $221.44 and a two-hundred day simple moving average of $209.54. The company has a market capitalization of $89.43 billion, a PE ratio of 50.18, a P/E/G ratio of 3.51 and a beta of 1.05. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $3.99 EPS. Equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Martin Mucci acquired 1,200 shares of Cintas stock in a transaction on Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director owned 2,621 shares in the company, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.00% of the company's stock.

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.