Cetera Investment Advisers Has $32.33 Million Stake in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Cetera Investment Advisers increased its stake in Cintas by 22.6%, owning 157,283 shares valued at approximately $32.3 million as of the latest SEC filing.
• Director Martin Mucci purchased 1,200 shares at an average price of $222.55, increasing his ownership by 84.45%.
• Cintas reported $1.09 earnings per share for the last quarter, exceeding analyst expectations of $1.07, with revenue up 8.0% year-over-year.

Cetera Investment Advisers boosted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 22.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,283 shares of the business services provider's stock after buying an additional 29,008 shares during the quarter. Cetera Investment Advisers' holdings in Cintas were worth $32,326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in Cintas by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock valued at $1,544,822,000 after buying an additional 219,809 shares during the last quarter. Invesco Ltd. boosted its holdings in Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock valued at $935,146,000 after purchasing an additional 296,059 shares during the period. Northern Trust Corp boosted its holdings in Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock valued at $743,048,000 after purchasing an additional 472,069 shares during the period. Royal Bank of Canada boosted its holdings in Cintas by 3.3% in the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cintas by 11.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock valued at $514,875,000 after purchasing an additional 295,226 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of CTAS stock traded down $3.18 on Monday, hitting $220.38. The company's stock had a trading volume of 984,315 shares, compared to its average volume of 1,718,610. 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 stock's 50 day moving average is $221.44 and its 200-day moving average is $209.54. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company has a market capitalization of $88.99 billion, a PE ratio of 49.97, a PEG ratio of 3.51 and a beta of 1.05.

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

Insider Activity at Cintas

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CTAS shares. The Goldman Sachs Group increased their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird increased their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company raised 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 report on Tuesday, July 1st. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Finally, UBS Group raised their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cintas has an average rating of "Hold" and a consensus price target of $224.54.

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.