Oak Thistle LLC Takes Position in Cintas Corporation (NASDAQ:CTAS)

Oak Thistle LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,693 shares of the business services provider's stock, valued at approximately $3,225,000. Cintas accounts for about 0.6% of Oak Thistle LLC's investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors also recently bought and sold shares of CTAS. Norges Bank purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $877,216,000. GAMMA Investing LLC raised its stake in shares of Cintas by 19,644.3% in the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock valued at $465,133,000 after acquiring an additional 2,251,629 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $196,057,000. Northern Trust Corp raised 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 acquiring an additional 472,069 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Cintas by 26.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock valued at $407,163,000 after acquiring an additional 468,950 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Martin Mucci purchased 1,200 shares of the stock in a transaction on Monday, July 21st. The stock was bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.00% of the stock is owned by company insiders.

Cintas Stock Up 0.3%

NASDAQ CTAS traded up $0.68 on Friday, hitting $223.56. 1,074,701 shares of the stock were exchanged, compared to its average volume of 1,461,321. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company has a market cap of $90.27 billion, a PE ratio of 50.69, a PEG ratio of 3.50 and a beta of 1.05. The company has a 50-day moving average price of $221.44 and a 200-day moving average price of $209.31.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the previous year, the business posted $3.99 EPS. The firm's revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTAS shares. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 target price (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 target price on the stock. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Finally, Wells Fargo & Company raised 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 research note on Tuesday, July 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cintas presently has an average rating of "Hold" and a consensus price target of $224.54.

Cintas 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.