M&T Bank Corp Lowers Stock Position in Cintas Corporation (NASDAQ:CTAS)

M&T Bank Corp cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,979 shares of the business services provider's stock after selling 2,614 shares during the period. M&T Bank Corp's holdings in Cintas were worth $5,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. MJP Associates Inc. ADV grew its position in shares of Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after acquiring an additional 50 shares during the last quarter. TIAA Trust National Association grew its position in Cintas by 1.0% in the 4th quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock valued at $983,000 after buying an additional 52 shares during the last quarter. Wellspring Financial Advisors LLC grew its position in Cintas by 4.6% in the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after buying an additional 52 shares during the last quarter. Johnson Financial Group Inc. grew its position in Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after buying an additional 52 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Cintas by 4.2% in the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock valued at $270,000 after buying an additional 53 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CTAS shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price objective (up from $215.00) on shares of Cintas in a research report on Monday, June 9th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $219.58.

Cintas Price Performance

Cintas stock opened at $216.56 on Friday. The company has a market cap of $87.44 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 3.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. Cintas Corporation has a one year low of $178.42 and a one year high of $229.24. The business has a fifty day moving average of $220.56 and a two-hundred day moving average of $206.71.

Insider Activity

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 transaction of $1,780,548.16. Following the completion of the transaction, the director owned 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by company insiders.

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.

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