Twelve Points Wealth Management LLC Takes Position in Cintas Corporation (NASDAQ:CTAS)

Twelve Points Wealth Management LLC bought a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,367 shares of the business services provider's stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTAS. Ameriprise Financial Inc. increased its holdings in 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 acquiring an additional 468,950 shares during the period. Alpine Global Management LLC bought a new stake in Cintas during the 4th quarter worth approximately $284,000. Treasurer of the State of North Carolina increased its holdings in Cintas by 12.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 170,182 shares of the business services provider's stock worth $31,092,000 after acquiring an additional 18,620 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Cintas by 97.6% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider's stock worth $1,365,000 after buying an additional 3,690 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Cintas by 5.7% in the 4th quarter. Bank of Montreal Can now owns 575,491 shares of the business services provider's stock worth $105,142,000 after buying an additional 30,811 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director directly owned 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CTAS. The Goldman Sachs Group increased 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a report on Thursday, May 1st. UBS Group increased their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Truist Financial increased their target price on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of "Hold" and an average target price of $219.58.

Cintas Stock Down 0.0%

NASDAQ CTAS traded down $0.08 during trading hours on Thursday, reaching $216.56. 1,002,195 shares of the company's stock traded hands, compared to its average volume of 1,667,489. Cintas Corporation has a 52-week low of $177.33 and a 52-week high of $229.24. The firm has a market cap of $87.44 billion, a PE ratio of 50.16, a PEG ratio of 3.36 and a beta of 1.05. The firm has a 50-day simple moving average of $220.42 and a 200 day simple moving average of $206.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50.

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.