Principal Financial Group Inc. cut its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 486,489 shares of the business services provider's stock after selling 28,439 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Cintas worth $99,988,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CTAS. Brighton Jones LLC increased its holdings in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after purchasing an additional 108 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Cintas by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after acquiring an additional 3,504 shares during the period. Fisher Asset Management LLC grew its holdings in Cintas by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 2,588 shares of the business services provider's stock worth $473,000 after acquiring an additional 128 shares during the period. Assetmark Inc. grew its holdings in Cintas by 21.6% during the fourth quarter. Assetmark Inc. now owns 8,928 shares of the business services provider's stock worth $1,631,000 after acquiring an additional 1,585 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Cintas during the fourth quarter worth about $295,000. 63.46% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction on Monday, April 14th. The stock was 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 directly owned 27,029 shares of the company's stock, valued at approximately $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is owned by corporate insiders.
Cintas Price Performance
Shares of NASDAQ CTAS traded down $2.25 during midday trading on Tuesday, hitting $215.29. The stock had a trading volume of 1,454,012 shares, compared to its average volume of 1,669,129. The company has a market capitalization of $86.93 billion, a PE ratio of 49.86, a P/E/G ratio of 3.39 and a beta of 1.05. The stock has a 50 day simple moving average of $220.32 and a 200-day simple moving average of $206.44. Cintas Corporation has a 1 year low of $177.33 and a 1 year high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44.
Analyst Ratings Changes
CTAS has been the topic of several analyst reports. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their target price for the stock 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 target price (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Bank of America initiated coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Finally, Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Cintas has an average rating of "Hold" and an average target price of $219.58.
Check Out Our Latest Research Report on CTAS
Cintas Profile
(
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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