Dakota Wealth Management Reduces Stock Position in Cintas Corporation (NASDAQ:CTAS)

Dakota Wealth Management lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 84.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,491 shares of the business services provider's stock after selling 78,112 shares during the quarter. Dakota Wealth Management's holdings in Cintas were worth $2,978,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC purchased a new stake in Cintas in the fourth quarter valued at $29,000. Meeder Asset Management Inc. lifted 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 buying an additional 134 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Cintas in the fourth quarter valued at about $40,000. Lee Danner & Bass Inc. purchased a new position in Cintas during the fourth quarter worth about $42,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its position in shares of 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 during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $216.90 on Tuesday. The stock's 50-day simple moving average is $220.74 and its 200-day simple moving average is $207.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The firm has a market capitalization of $87.58 billion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. Cintas Corporation has a fifty-two week low of $178.42 and a fifty-two week high of $229.24.

Analysts Set New Price Targets

CTAS has been the subject of several research reports. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday. They issued an "overweight" rating and a $239.00 target price for the company. Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. The Goldman Sachs Group increased 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, Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $220.96.

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.

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