Lbp Am Sa lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 49.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,700 shares of the business services provider's stock after selling 6,542 shares during the quarter. Lbp Am Sa's holdings in Cintas were worth $1,377,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cintas during the 4th quarter valued at about $877,216,000. GAMMA Investing LLC raised its stake in Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares during the period. Winslow Capital Management LLC acquired a new position in Cintas in the 4th quarter valued at about $196,057,000. Northern Trust Corp grew its stake in shares of 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 buying an additional 472,069 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after buying an additional 468,950 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.
Insiders Place Their Bets
In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction dated 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 transaction, the director owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.00% of the stock is currently owned by company insiders.
Cintas Price Performance
Shares of CTAS opened at $216.56 on Friday. The company has a market cap of $87.44 billion, a P/E ratio of 50.16, a PEG ratio of 3.38 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. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The firm's 50 day moving average price is $220.56 and its 200 day moving average price is $206.71.
Analysts Set New Price Targets
CTAS has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Truist Financial raised their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research report on Thursday, May 1st. Finally, Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $219.58.
View Our Latest Analysis on Cintas
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.
See Also
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).
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