California State Teachers Retirement System increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,747 shares of the business services provider’s stock after purchasing an additional 4,972 shares during the period. California State Teachers Retirement System’s holdings in Cintas were worth $24,820,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of CTAS. AQR Capital Management LLC grew its stake in shares of Cintas by 210.5% during the third quarter. AQR Capital Management LLC now owns 440,086 shares of the business services provider’s stock worth $87,053,000 after purchasing an additional 298,336 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new position in shares of Cintas during the fourth quarter worth $40,285,000. Brown Advisory Inc. grew its stake in shares of Cintas by 13.7% during the fourth quarter. Brown Advisory Inc. now owns 1,894,686 shares of the business services provider’s stock worth $318,289,000 after purchasing an additional 228,596 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Cintas by 363.3% during the third quarter. Janus Henderson Group PLC now owns 257,086 shares of the business services provider’s stock worth $50,854,000 after purchasing an additional 201,601 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in shares of Cintas by 27.8% during the third quarter. Marshall Wace North America L.P. now owns 838,445 shares of the business services provider’s stock worth $165,853,000 after purchasing an additional 182,213 shares in the last quarter. Hedge funds and other institutional investors own 66.33% of the company’s stock.
In other news, insider Michael Lawrence Thompson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $200.60, for a total value of $200,600.00. Following the completion of the sale, the insider now directly owns 64,165 shares of the company’s stock, valued at $12,871,499. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Frooman sold 1,740 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $201.79, for a total transaction of $351,114.60. Following the completion of the sale, the vice president now directly owns 124,666 shares of the company’s stock, valued at $25,156,352.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,740 shares of company stock valued at $1,156,635. 19.10% of the stock is owned by corporate insiders.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Thursday, December 20th. The business services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.04. Cintas had a net margin of 14.10% and a return on equity of 24.87%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company earned $1.31 earnings per share. Cintas’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cintas Co. will post 7.35 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Cintas from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 24th. Robert W. Baird lowered their target price on shares of Cintas from $235.00 to $201.00 and set an “outperform” rating for the company in a research note on Friday, December 21st. Northcoast Research reissued a “neutral” rating on shares of Cintas in a research report on Friday, December 21st. Credit Suisse Group reduced their price target on shares of Cintas from $205.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, December 21st. Finally, Morgan Stanley set a $167.00 price target on shares of Cintas and gave the company a “sell” rating in a research report on Friday, December 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Cintas presently has a consensus rating of “Buy” and a consensus target price of $190.77.
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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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