Karp Capital Management Corp Trims Stake in Cintas Co. (CTAS)

Karp Capital Management Corp cut its holdings in Cintas Co. (NASDAQ:CTAS) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,931 shares of the business services provider’s stock after selling 415 shares during the period. Karp Capital Management Corp’s holdings in Cintas were worth $3,220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in shares of Cintas by 8.0% during the third quarter. Teachers Advisors LLC now owns 127,318 shares of the business services provider’s stock worth $25,185,000 after purchasing an additional 9,402 shares during the period. Legal & General Group Plc raised its position in shares of Cintas by 8.9% during the third quarter. Legal & General Group Plc now owns 443,197 shares of the business services provider’s stock worth $87,669,000 after purchasing an additional 36,363 shares during the period. Vanguard Group Inc raised its position in shares of Cintas by 0.5% during the third quarter. Vanguard Group Inc now owns 9,605,402 shares of the business services provider’s stock worth $1,900,044,000 after purchasing an additional 48,586 shares during the period. State of Alaska Department of Revenue raised its position in shares of Cintas by 1.5% during the fourth quarter. State of Alaska Department of Revenue now owns 19,980 shares of the business services provider’s stock worth $3,354,000 after purchasing an additional 304 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Cintas by 4.7% during the fourth quarter. DNB Asset Management AS now owns 13,141 shares of the business services provider’s stock worth $2,208,000 after purchasing an additional 593 shares during the period. 67.15% of the stock is owned by institutional investors.

NASDAQ:CTAS traded up $0.71 during trading hours on Wednesday, hitting $220.78. 3,981 shares of the company’s stock traded hands, compared to its average volume of 422,015. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 2.38 and a beta of 1.08. Cintas Co. has a twelve month low of $155.98 and a twelve month high of $223.99. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.80.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.13. Cintas had a return on equity of 25.85% and a net margin of 12.44%. The firm had revenue of $1.68 million for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. Cintas’s quarterly revenue was down 99.9% on a year-over-year basis. Equities analysts forecast that Cintas Co. will post 7.46 earnings per share for the current year.

In other Cintas news, VP Thomas E. Frooman sold 1,740 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $201.79, for a total value of $351,114.60. Following the transaction, the vice president now owns 124,666 shares in the company, valued at $25,156,352.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 6,255 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $222.20, for a total value of $1,389,861.00. Following the completion of the transaction, the director now owns 7,973 shares in the company, valued at approximately $1,771,600.60. The disclosure for this sale can be found here. Insiders sold 10,410 shares of company stock worth $2,242,837 in the last 90 days. Corporate insiders own 19.10% of the company’s stock.

CTAS has been the topic of a number of recent analyst reports. BidaskClub raised Cintas from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. ValuEngine raised Cintas from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research lowered Cintas from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. upped their price target on Cintas from $210.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley upped their price target on Cintas from $163.00 to $172.00 and gave the company an “underweight” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $194.45.

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About Cintas

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, and carpet and tile cleaning services, as well as sells uniforms directly.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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