Korea Investment CORP cut its position in Cintas Co. (NASDAQ:CTAS) by 19.3% during the second quarter, Holdings Channel reports. The institutional investor owned 66,979 shares of the business services provider’s stock after selling 16,041 shares during the period. Korea Investment CORP’s holdings in Cintas were worth $8,442,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Cintas by 19.4% in the first quarter. Parallel Advisors LLC now owns 862 shares of the business services provider’s stock worth $104,000 after buying an additional 140 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Cintas by 11.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,023 shares of the business services provider’s stock worth $125,000 after buying an additional 106 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Cintas by 8.1% in the first quarter. Van ECK Associates Corp now owns 1,214 shares of the business services provider’s stock worth $154,000 after buying an additional 91 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Cintas by 39.7% in the first quarter. Global X Management Co. LLC now owns 1,559 shares of the business services provider’s stock worth $197,000 after buying an additional 443 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC acquired a new stake in shares of Cintas during the first quarter worth about $202,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Shares of Cintas Co. (CTAS) opened at 133.30 on Thursday. The company has a market capitalization of $14.05 billion, a PE ratio of 30.39 and a beta of 0.84. The firm’s 50-day moving average is $130.22 and its 200 day moving average is $123.88. Cintas Co. has a 52 week low of $102.07 and a 52 week high of $139.74.
Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, July 20th. The business services provider reported $0.75 EPS for the quarter, missing the consensus estimate of $1.05 by $0.30. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Cintas had a net margin of 5.31% and a return on equity of 13.63%. Cintas’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 earnings per share. On average, analysts anticipate that Cintas Co. will post $5.23 earnings per share for the current fiscal year.
A number of research firms have issued reports on CTAS. BidaskClub cut shares of Cintas from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research cut shares of Cintas from a “buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus upped their price target on shares of Cintas from $123.00 to $136.00 and gave the company a “hold” rating in a report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating and set a $130.00 price target on shares of Cintas in a report on Friday, July 21st. Finally, Morgan Stanley restated an “underweight” rating and set a $117.00 price target (up from $107.00) on shares of Cintas in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $133.42.
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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