Sei Investments Co. reduced its holdings in shares of Cintas Corporation (NASDAQ:CTAS – Free Report) by 58.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,878 shares of the business services provider’s stock after selling 349,875 shares during the period. Sei Investments Co.’s holdings in Cintas were worth $41,252,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTAS. State Street Corp increased its position in shares of Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after acquiring an additional 210,477 shares during the period. Geode Capital Management LLC grew its stake in Cintas by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after purchasing an additional 97,220 shares in the last quarter. Norges Bank purchased a new stake in Cintas during the 4th quarter worth about $923,672,000. Morgan Stanley increased its holdings in Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Cintas by 4.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider’s stock valued at $504,702,000 after purchasing an additional 112,622 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.
Cintas Stock Performance
CTAS opened at $205.91 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The company has a market cap of $82.38 billion, a P/E ratio of 55.06, a PEG ratio of 3.32 and a beta of 0.94. The business’s 50-day simple moving average is $179.30 and its 200-day simple moving average is $183.33.
Wall Street Analysts Forecast Growth
CTAS has been the subject of several recent research reports. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, UBS Group reissued a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas presently has a consensus rating of “Moderate Buy” and an average target price of $212.31.
Get Our Latest Stock Analysis on CTAS
Cintas Profile
Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.
Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.
See Also
- Five stocks we like better than Cintas
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS – Free Report).
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.
