Municipal Employees Retirement System of Michigan reduced its position in shares of Cintas Corporation (NASDAQ:CTAS) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,560 shares of the business services provider’s stock after selling 470 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Cintas Corporation were worth $1,205,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Teachers Advisors LLC raised its position in Cintas Corporation by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 98,790 shares of the business services provider’s stock worth $11,416,000 after buying an additional 4,314 shares during the period. Macquarie Group Ltd. raised its position in Cintas Corporation by 99.0% in the fourth quarter. Macquarie Group Ltd. now owns 6,895 shares of the business services provider’s stock worth $796,000 after buying an additional 3,431 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in Cintas Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 74,304 shares of the business services provider’s stock valued at $9,402,000 after buying an additional 2,107 shares during the last quarter. Charter Trust Co. purchased a new position in Cintas Corporation during the first quarter valued at approximately $262,000. Finally, Gulf International Bank UK Ltd raised its position in Cintas Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 27,367 shares of the business services provider’s stock valued at $3,463,000 after buying an additional 330 shares during the last quarter. 67.55% of the stock is owned by hedge funds and other institutional investors.
Cintas Corporation (NASDAQ:CTAS) traded up 1.08% on Friday, reaching $132.61. The company had a trading volume of 925,899 shares. Cintas Corporation has a 52-week low of $102.07 and a 52-week high of $139.74. The company has a market capitalization of $13.98 billion, a PE ratio of 30.23 and a beta of 0.84. The company’s 50-day moving average is $131.07 and its 200-day moving average is $124.61.
Cintas Corporation (NASDAQ:CTAS) last released its earnings results on Thursday, July 20th. The business services provider reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.30. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities analysts anticipate that Cintas Corporation will post $5.23 EPS for the current fiscal year.
Several research firms have commented on CTAS. Deutsche Bank AG set a $130.00 price objective on shares of Cintas Corporation and gave the stock a “hold” rating in a research note on Friday, July 21st. Royal Bank Of Canada reissued a “hold” rating and set a $130.00 target price on shares of Cintas Corporation in a research note on Friday, July 21st. Morgan Stanley reissued an “underweight” rating and set a $117.00 target price (up from $107.00) on shares of Cintas Corporation in a research note on Tuesday, July 25th. Zacks Investment Research downgraded Cintas Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, BidaskClub downgraded Cintas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Cintas Corporation has a consensus rating of “Hold” and a consensus price target of $133.42.
In other news, CFO J. Michael Hansen sold 800 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $130.75, for a total value of $104,600.00. Following the completion of the sale, the chief financial officer now owns 54,370 shares of the company’s stock, valued at $7,108,877.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gerald S. Adolph sold 2,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the completion of the transaction, the director now directly owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 19.10% of the stock is currently 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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