New York State Common Retirement Fund Sells 86,800 Shares of Cintas Corporation (NASDAQ:CTAS)

New York State Common Retirement Fund lessened its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 413,188 shares of the business services provider's stock after selling 86,800 shares during the period. New York State Common Retirement Fund owned 0.10% of Cintas worth $84,923,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the fourth quarter worth $29,000. Meeder Asset Management Inc. grew its holdings in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after purchasing an additional 134 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Cintas in the fourth quarter worth $40,000. Lee Danner & Bass Inc. acquired a new stake in Cintas in the fourth quarter worth $42,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its holdings in Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after purchasing an additional 181 shares during the period. Institutional investors own 63.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTAS. UBS Group raised their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. The Goldman Sachs Group raised their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $219.58.

Cintas Stock Down 0.5%

Cintas stock opened at $215.44 on Monday. Cintas Corporation has a fifty-two week low of $178.42 and a fifty-two week high of $229.24. The stock has a market cap of $86.99 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. The firm's 50-day simple moving average is $220.63 and its 200 day simple moving average is $207.18. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.