EULAV Asset Management reduced its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,735 shares of the business services provider's stock after selling 32,954 shares during the period. Cintas makes up about 2.8% of EULAV Asset Management's holdings, making the stock its 6th largest holding. EULAV Asset Management owned about 0.14% of Cintas worth $113,193,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in shares of Cintas during the fourth quarter worth about $29,000. IAG Wealth Partners LLC boosted its holdings in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Cintas by 239.3% during the 4th 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 during the period. OFI Invest Asset Management acquired a new stake in shares of Cintas during the 4th quarter valued at approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Cintas by 646.4% during the 1st 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 during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on CTAS shares. UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Truist Financial boosted their price objective 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. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group upped their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Bank of America began coverage on shares of Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cintas currently has a consensus rating of "Hold" and a consensus target price of $219.58.
Get Our Latest Report on CTAS
Insider Activity
In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, the director directly owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.00% of the stock is owned by company insiders.
Cintas Price Performance
Shares of Cintas stock traded up $0.43 on Wednesday, hitting $215.72. The company had a trading volume of 337,506 shares, compared to its average volume of 1,663,902. The business has a 50-day simple moving average of $220.32 and a 200-day simple moving average of $206.44. 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 market cap of $87.10 billion, a PE ratio of 49.93, a PEG ratio of 3.39 and a beta of 1.05. Cintas Corporation has a 52 week low of $177.33 and a 52 week high of $229.24.
About Cintas
(
Free Report)
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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