Cabot Wealth Management Inc. decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 5.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 56,178 shares of the business services provider’s stock after selling 3,327 shares during the period. Cintas Corporation makes up 1.6% of Cabot Wealth Management Inc.’s portfolio, making the stock its 17th largest position. Cabot Wealth Management Inc. owned 0.05% of Cintas Corporation worth $7,081,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Cim LLC boosted its stake in Cintas Corporation by 5.2% in the first quarter. Cim LLC now owns 3,486 shares of the business services provider’s stock valued at $441,000 after buying an additional 173 shares during the period. Atria Investments LLC boosted its stake in Cintas Corporation by 1.1% in the first quarter. Atria Investments LLC now owns 2,892 shares of the business services provider’s stock valued at $366,000 after buying an additional 32 shares during the period. Parametrica Management Ltd bought a new stake in Cintas Corporation during the first quarter valued at approximately $887,000. Private Trust Co. NA bought a new stake in Cintas Corporation during the first quarter valued at approximately $506,000. Finally, Verus Financial Partners Inc. bought a new stake in Cintas Corporation during the first quarter valued at approximately $251,000. 67.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cintas Corporation (NASDAQ:CTAS) traded up 1.08% during midday trading on Friday, hitting $132.61. 925,899 shares of the company were exchanged. The firm has a market capitalization of $13.98 billion, a price-to-earnings ratio of 30.23 and a beta of 0.84. Cintas Corporation has a one year low of $102.07 and a one year high of $139.74. The firm’s 50 day moving average price is $131.07 and its 200 day moving average price is $124.61.
Cintas Corporation (NASDAQ:CTAS) last released its earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.05 by $0.30. Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. The firm’s revenue was up 23.1% on a year-over-year basis. Analysts forecast that Cintas Corporation will post $5.23 EPS for the current fiscal year.
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Several analysts have recently commented on the stock. Deutsche Bank AG set a $130.00 price target on shares of Cintas Corporation and gave the company a “hold” rating in a research note on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and set a $130.00 price target on shares of Cintas Corporation in a research note on Friday, July 21st. Morgan Stanley reissued an “underweight” rating and set a $117.00 price target (up from $107.00) on shares of Cintas Corporation in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Cintas Corporation from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, BidaskClub cut shares of Cintas Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $133.42.
In other Cintas Corporation news, CFO J. Michael Hansen sold 800 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $130.75, for a total transaction of $104,600.00. Following the transaction, the chief financial officer now owns 54,370 shares in the company, valued at $7,108,877.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gerald S. Adolph sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total transaction of $267,380.00. Following the transaction, the director now owns 13,135 shares in the company, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 19.10% of the stock is owned by insiders.
Cintas Corporation Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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