NorthCoast Asset Management LLC Has $4.43 Million Position in Cintas Corporation (CTAS)
NorthCoast Asset Management LLC increased its position in Cintas Corporation (NASDAQ:CTAS) by 387.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,129 shares of the business services provider’s stock after acquiring an additional 27,920 shares during the period. NorthCoast Asset Management LLC’s holdings in Cintas Corporation were worth $4,428,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Cintas Corporation by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 9,075,105 shares of the business services provider’s stock worth $1,148,365,000 after acquiring an additional 104,454 shares during the period. BlackRock Inc. increased its holdings in shares of Cintas Corporation by 1,737.2% in the 1st quarter. BlackRock Inc. now owns 6,465,344 shares of the business services provider’s stock worth $818,121,000 after acquiring an additional 6,113,425 shares during the period. State Street Corp increased its holdings in shares of Cintas Corporation by 1.1% in the 1st quarter. State Street Corp now owns 4,900,672 shares of the business services provider’s stock worth $620,135,000 after acquiring an additional 51,747 shares during the period. AQR Capital Management LLC increased its holdings in shares of Cintas Corporation by 2.0% in the 1st quarter. AQR Capital Management LLC now owns 1,512,980 shares of the business services provider’s stock worth $191,452,000 after acquiring an additional 30,228 shares during the period. Finally, FMR LLC increased its holdings in shares of Cintas Corporation by 23.1% in the 1st quarter. FMR LLC now owns 1,417,504 shares of the business services provider’s stock worth $179,371,000 after acquiring an additional 265,971 shares during the period. 66.42% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts recently weighed in on CTAS shares. Instinet cut shares of Cintas Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $130.00 in a report on Tuesday, June 27th. Nomura cut shares of Cintas Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, June 28th. Deutsche Bank AG set a $130.00 price objective on shares of Cintas Corporation and gave the stock a “hold” rating in a report on Friday, July 21st. Zacks Investment Research raised shares of Cintas Corporation from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a report on Friday, June 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $130.00 price objective on shares of Cintas Corporation in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $135.40.
In other Cintas Corporation news, Director Gerald S. Adolph sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total transaction of $267,380.00. Following the completion of the sale, the director now directly owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO J. Michael Hansen sold 800 shares of the business’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 sale, the chief financial officer now directly owns 54,370 shares of the company’s stock, valued at $7,108,877.50. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.
Cintas Corporation (NASDAQ CTAS) traded up 0.44% during trading on Friday, reaching $133.72. 325,638 shares of the company’s stock traded hands. The firm’s 50 day moving average is $134.18 and its 200-day moving average is $126.36. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 30.48 and a beta of 0.85. Cintas Corporation has a 12 month low of $102.07 and a 12 month high of $139.74.
Cintas Corporation (NASDAQ:CTAS) last announced its quarterly earnings data on Thursday, July 20th. The business services provider reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.30. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Cintas Corporation had a return on equity of 23.38% and a net margin of 8.90%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. Analysts expect that Cintas Corporation will post $5.23 EPS for the current fiscal year.
Cintas Corporation 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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