Wells Fargo & Company MN raised its position in Cintas Co. (NASDAQ:CTAS) by 50.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,166 shares of the business services provider’s stock after purchasing an additional 240,495 shares during the quarter. Wells Fargo & Company MN owned 0.67% of Cintas worth $111,443,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Artisan Partners Limited Partnership raised its position in Cintas by 29.1% in the third quarter. Artisan Partners Limited Partnership now owns 1,771,864 shares of the business services provider’s stock valued at $255,645,000 after purchasing an additional 398,874 shares during the period. Egerton Capital UK LLP acquired a new position in shares of Cintas in the fourth quarter worth $239,268,000. Frontier Capital Management Co. LLC grew its stake in shares of Cintas by 1.4% in the third quarter. Frontier Capital Management Co. LLC now owns 1,046,259 shares of the business services provider’s stock worth $150,954,000 after acquiring an additional 14,223 shares in the last quarter. Congress Asset Management Co. MA grew its stake in shares of Cintas by 3.3% in the fourth quarter. Congress Asset Management Co. MA now owns 992,320 shares of the business services provider’s stock worth $154,633,000 after acquiring an additional 32,155 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its stake in shares of Cintas by 23.9% in the third quarter. Pictet Asset Management Ltd. now owns 565,595 shares of the business services provider’s stock worth $81,604,000 after acquiring an additional 109,060 shares in the last quarter. 66.19% of the stock is currently owned by institutional investors.
Cintas Co. (CTAS) opened at $166.65 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.53 and a current ratio of 1.77. The company has a market cap of $17,796.41, a price-to-earnings ratio of 33.20, a P/E/G ratio of 2.56 and a beta of 0.91. Cintas Co. has a 12 month low of $117.21 and a 12 month high of $169.96.
CTAS has been the subject of several research reports. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $179.00 price target for the company in a research note on Tuesday, December 19th. Robert W. Baird restated an “outperform” rating and issued a $185.00 price target (up previously from $165.00) on shares of Cintas in a research note on Friday, December 22nd. William Blair restated a “buy” rating on shares of Cintas in a research note on Monday, January 1st. JPMorgan Chase & Co. restated a “buy” rating and issued a $183.00 price target on shares of Cintas in a research note on Friday, December 22nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $145.00 price target on shares of Cintas in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $155.91.
In related news, insider James Phillip Holloman sold 12,386 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $160.92, for a total transaction of $1,993,155.12. Following the completion of the transaction, the insider now owns 141,328 shares in the company, valued at $22,742,501.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 18.90% of the company’s stock.
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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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