Cintas Co. (NASDAQ:CTAS) is NewFocus Financial Group LLC’s 4th Largest Position

NewFocus Financial Group LLC decreased its stake in Cintas Co. (NASDAQ:CTAS) by 1.9% in the second quarter, Holdings Channel reports. The institutional investor owned 42,912 shares of the business services provider’s stock after selling 849 shares during the quarter. Cintas makes up approximately 4.7% of NewFocus Financial Group LLC’s holdings, making the stock its 4th largest position. NewFocus Financial Group LLC’s holdings in Cintas were worth $10,183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. OppenheimerFunds Inc. increased its stake in shares of Cintas by 336.6% during the 1st quarter. OppenheimerFunds Inc. now owns 653,407 shares of the business services provider’s stock worth $132,061,000 after purchasing an additional 503,747 shares during the last quarter. FMR LLC increased its stake in shares of Cintas by 21.2% during the 1st quarter. FMR LLC now owns 2,722,998 shares of the business services provider’s stock worth $550,345,000 after purchasing an additional 475,757 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Cintas by 145.6% during the 1st quarter. Neuberger Berman Group LLC now owns 409,863 shares of the business services provider’s stock worth $82,837,000 after purchasing an additional 242,991 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Cintas by 124.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 322,587 shares of the business services provider’s stock worth $65,199,000 after purchasing an additional 179,023 shares during the last quarter. Finally, Ardevora Asset Management LLP acquired a new position in shares of Cintas during the 1st quarter worth $35,773,000. Institutional investors own 66.86% of the company’s stock.

NASDAQ:CTAS opened at $256.92 on Friday. Cintas Co. has a 1 year low of $155.98 and a 1 year high of $264.29. The firm has a fifty day moving average price of $244.58. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. The firm has a market cap of $26.94 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 3.05 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last posted its earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.13. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period last year, the business posted $1.77 EPS. Cintas’s revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post 8.45 EPS for the current fiscal year.

Several research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Cintas to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. BidaskClub lowered shares of Cintas from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. Morgan Stanley increased their price target on shares of Cintas from $184.00 to $202.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 17th. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $273.00 target price on the stock in a research note on Thursday, July 18th. Finally, Barclays reiterated a “buy” rating and issued a $265.00 target price on shares of Cintas in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $228.06.

In related news, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,401,224.67. Following the transaction, the vice president now directly owns 127,624 shares in the company, valued at approximately $33,283,062.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the transaction, the insider now owns 69,053 shares in the company, valued at $18,008,331.87. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.

Cintas Profile

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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