State Street Corp decreased its stake in Cintas Corporation (NASDAQ:CTAS) by 4.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,664,150 shares of the business services provider’s stock after selling 236,522 shares during the period. State Street Corp owned approximately 4.42% of Cintas Corporation worth $587,865,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cintas Corporation by 2.1% in the second quarter. Vanguard Group Inc. now owns 9,266,612 shares of the business services provider’s stock worth $1,167,964,000 after acquiring an additional 191,507 shares during the last quarter. BlackRock Inc. boosted its stake in Cintas Corporation by 2.2% during the second quarter. BlackRock Inc. now owns 6,607,462 shares of the business services provider’s stock worth $832,804,000 after buying an additional 142,118 shares in the last quarter. FMR LLC boosted its stake in Cintas Corporation by 20.3% during the second quarter. FMR LLC now owns 1,705,533 shares of the business services provider’s stock worth $214,965,000 after buying an additional 288,029 shares in the last quarter. AQR Capital Management LLC boosted its stake in Cintas Corporation by 2.0% during the first quarter. AQR Capital Management LLC now owns 1,512,980 shares of the business services provider’s stock worth $191,452,000 after buying an additional 30,228 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in Cintas Corporation by 5.3% during the second quarter. Artisan Partners Limited Partnership now owns 1,372,990 shares of the business services provider’s stock worth $173,052,000 after buying an additional 68,669 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.

Cintas Corporation (CTAS) opened at 150.0251 on Wednesday. The company has a 50 day moving average price of $138.13 and a 200-day moving average price of $129.71. Cintas Corporation has a 12-month low of $102.07 and a 12-month high of $150.43. The company has a market capitalization of $15.93 billion, a PE ratio of 29.4109 and a beta of 0.86.

Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.18. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. Cintas Corporation’s revenue was up 27.2% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, analysts anticipate that Cintas Corporation will post $5.36 EPS for the current year.

A number of equities research analysts have weighed in on CTAS shares. Instinet downgraded shares of Cintas Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $142.00 to $130.00 in a research note on Tuesday, June 27th. Nomura downgraded shares of Cintas Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 28th. Deutsche Bank AG set a $130.00 price target on shares of Cintas Corporation and gave the stock a “hold” rating in a research note on Friday, July 21st. Royal Bank Of Canada reiterated a “hold” rating and set a $130.00 price target on shares of Cintas Corporation in a research note on Friday, July 21st. Finally, Morgan Stanley reiterated an “underweight” rating and set a $117.00 price target (up previously from $107.00) on shares of Cintas Corporation in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $143.00.

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In related news, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $133.69, for a total value of $267,380.00. Following the sale, the director now directly owns 13,135 shares of the company’s stock, valued at $1,756,018.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were 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 directly owns 54,370 shares in the company, valued at $7,108,877.50. The disclosure for this sale can be found here. Company insiders own 18.90% of the company’s stock.

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.

Institutional Ownership by Quarter for Cintas Corporation (NASDAQ:CTAS)

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