Victory Capital Management Inc. Decreases Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

Victory Capital Management Inc. cut its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 367,115 shares of the business services provider's stock after selling 5,584 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of Cintas worth $75,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Cyrus J. Lawrence LLC acquired a new position in shares of Cintas during the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. grew its position in Cintas by 239.3% in 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 during the last quarter. VSM Wealth Advisory LLC acquired a new position in Cintas during the fourth quarter worth about $40,000. Lee Danner & Bass Inc. bought a new position in Cintas in the 4th quarter valued at approximately $42,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in Cintas by 646.4% in 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. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CTAS. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a report on Monday, June 9th. JPMorgan Chase & Co. started coverage on shares of Cintas in a research report on Monday. They set an "overweight" rating and a $239.00 price objective on the stock. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Finally, Truist Financial upped their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus price target of $222.75.

Cintas Stock Performance

Cintas stock traded up $0.02 during trading on Friday, reaching $221.94. The company had a trading volume of 2,528,220 shares, compared to its average volume of 1,667,974. The company has a current ratio of 2.09, a quick ratio of 1.50 and a debt-to-equity ratio of 0.52. The firm's 50-day simple moving average is $220.85 and its 200 day simple moving average is $207.77. The firm has a market capitalization of $89.62 billion, a price-to-earnings ratio of 50.33, a price-to-earnings-growth ratio of 3.54 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 announced its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.99 earnings per share. Sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Company 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.