Xponance Inc. raised its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,738 shares of the business services provider's stock after purchasing an additional 1,401 shares during the quarter. Xponance Inc.'s holdings in Cintas were worth $16,594,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Cintas by 0.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after buying an additional 3,504 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Cintas in the 4th quarter worth about $295,000. Moors & Cabot Inc. grew its position in shares of Cintas by 13.2% in the 4th quarter. Moors & Cabot Inc. now owns 10,255 shares of the business services provider's stock worth $1,874,000 after buying an additional 1,195 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Cintas by 19.8% in the 4th quarter. HighTower Advisors LLC now owns 85,367 shares of the business services provider's stock worth $15,597,000 after buying an additional 14,102 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Cintas
In related news, Director Ronald W. Tysoe sold 8,521 shares of the firm's 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 sale, the director owned 27,029 shares in the company, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 15.00% of the company's stock.
Cintas Stock Performance
Shares of NASDAQ CTAS traded down $1.12 during trading on Friday, reaching $215.44. 1,035,324 shares of the company traded hands, compared to its average volume of 1,668,254. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $220.56 and a 200-day simple moving average of $206.71. Cintas Corporation has a 52-week low of $178.42 and a 52-week high of $229.24. The stock has a market capitalization of $86.99 billion, a PE ratio of 49.90, a P/E/G ratio of 3.38 and a beta of 1.05.
Analyst Upgrades and Downgrades
CTAS has been the topic of a number of recent research reports. Argus raised shares of Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Truist Financial upped 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. UBS Group upped their target price on shares of Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley upped their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a research report on Monday, June 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $219.58.
Read Our Latest Stock Report on CTAS
About Cintas
(
Free Report)
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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