Pittenger & Anderson Inc. Sells 5,708 Shares of Cintas Corporation (NASDAQ:CTAS)

Pittenger & Anderson Inc. decreased its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,381 shares of the business services provider's stock after selling 5,708 shares during the period. Cintas makes up 1.2% of Pittenger & Anderson Inc.'s portfolio, making the stock its 16th largest holding. Pittenger & Anderson Inc.'s holdings in Cintas were worth $32,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System boosted its stake in shares of Cintas by 1.9% in the 1st quarter. Arizona State Retirement System now owns 106,502 shares of the business services provider's stock valued at $21,889,000 after purchasing an additional 1,961 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock worth $266,000 after purchasing an additional 51 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Cintas by 14.5% during the 1st quarter. Ballentine Partners LLC now owns 2,558 shares of the business services provider's stock worth $526,000 after purchasing an additional 323 shares in the last quarter. Chapman Investment Management LLC increased its position in shares of Cintas by 0.6% during the 1st quarter. Chapman Investment Management LLC now owns 24,908 shares of the business services provider's stock worth $5,119,000 after purchasing an additional 137 shares in the last quarter. Finally, Stegent Equity Advisors Inc. increased its position in shares of Cintas by 17.6% during the 1st quarter. Stegent Equity Advisors Inc. now owns 1,834 shares of the business services provider's stock worth $377,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTAS. Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price for the company. Robert W. Baird raised their target price on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Finally, Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Hold" and a consensus price target of $219.58.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the 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 transaction, the director owned 27,029 shares in the company, valued at $5,647,979.84. This trade represents a 23.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.00% of the stock is owned by insiders.

Cintas Stock Down 0.5%

CTAS stock opened at $215.44 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The stock has a market capitalization of $86.99 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 3.36 and a beta of 1.05. The business's fifty day moving average price is $220.63 and its two-hundred day moving average price is $207.03. Cintas Corporation has a fifty-two week low of $178.42 and a fifty-two week high of $229.24.

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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