Schwab Charles Investment Management Inc. Increases Stake in Cintas Corporation (CTAS)

Schwab Charles Investment Management Inc. grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 286,019 shares of the business services provider’s stock after buying an additional 7,920 shares during the period. Schwab Charles Investment Management Inc. owned 0.27% of Cintas Corporation worth $36,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTAS. Nationwide Fund Advisors boosted its position in Cintas Corporation by 5.0% during the 1st quarter. Nationwide Fund Advisors now owns 59,942 shares of the business services provider’s stock worth $7,585,000 after purchasing an additional 2,859 shares during the period. Janney Montgomery Scott LLC boosted its position in Cintas Corporation by 5.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,692 shares of the business services provider’s stock worth $467,000 after purchasing an additional 198 shares during the period. Strs Ohio boosted its position in Cintas Corporation by 13.2% during the 1st quarter. Strs Ohio now owns 5,520 shares of the business services provider’s stock worth $698,000 after purchasing an additional 643 shares during the period. Russell Investments Group Ltd. boosted its position in Cintas Corporation by 10.7% during the 1st quarter. Russell Investments Group Ltd. now owns 66,375 shares of the business services provider’s stock worth $8,400,000 after purchasing an additional 6,392 shares during the period. Finally, Henderson Group PLC boosted its position in Cintas Corporation by 4.0% during the 1st quarter. Henderson Group PLC now owns 10,290 shares of the business services provider’s stock worth $1,302,000 after purchasing an additional 400 shares during the period. 66.42% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Cintas Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Zacks Investment Research cut shares of Cintas Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 5th. Morgan Stanley reaffirmed an “underweight” rating and set a $117.00 price target (up from $107.00) on shares of Cintas Corporation in a research report on Tuesday, July 25th. Nomura cut shares of Cintas Corporation from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus upped their price target on shares of Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Cintas Corporation has a consensus rating of “Hold” and an average target price of $135.40.

Cintas Corporation (CTAS) opened at 135.00 on Tuesday. Cintas Corporation has a one year low of $102.07 and a one year high of $139.74. The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 30.77 and a beta of 0.85. The firm has a 50-day moving average of $134.06 and a 200-day moving average of $126.54.

Cintas Corporation (NASDAQ:CTAS) last posted its earnings results on Thursday, July 20th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by $0.30. Cintas Corporation had a net margin of 8.90% and a return on equity of 23.38%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. Analysts anticipate that Cintas Corporation will post $5.23 EPS for the current year.

In related news, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $130.75, for a total value of $104,600.00. Following the transaction, the chief financial officer now directly owns 54,370 shares in the company, valued at approximately $7,108,877.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total transaction of $267,380.00. Following the completion of the transaction, the director now owns 13,135 shares in the company, valued at $1,756,018.15. The disclosure for this sale can be found here. Company insiders own 19.10% of the company’s stock.

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About Cintas Corporation

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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Institutional Ownership by Quarter for Cintas Corporation (NASDAQ:CTAS)

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