SG Americas Securities LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 48.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,051 shares of the business services provider’s stock after selling 6,745 shares during the quarter. SG Americas Securities LLC’s holdings in Cintas were worth $1,221,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Tobias Financial Advisors Inc. acquired a new position in shares of Cintas in the 4th quarter worth approximately $28,000. Vigilant Capital Management LLC acquired a new position in shares of Cintas in the 4th quarter worth approximately $38,000. Orion Portfolio Solutions LLC acquired a new stake in Cintas during the 4th quarter worth approximately $51,000. Cornerstone Advisors Inc. lifted its holdings in Cintas by 38.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 345 shares of the business services provider’s stock worth $60,000 after buying an additional 95 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in Cintas by 33.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 381 shares of the business services provider’s stock worth $103,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 65.33% of the company’s stock.
CTAS has been the topic of a number of research reports. Credit Suisse Group reduced their target price on shares of Cintas from $265.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Zacks Investment Research lowered shares of Cintas from a “hold” rating to a “sell” rating and set a $165.00 target price on the stock. in a report on Tuesday, March 24th. Robert W. Baird lowered shares of Cintas from an “outperform” rating to a “neutral” rating and set a $175.00 price objective on the stock. in a report on Friday, March 20th. BidaskClub raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Thursday, April 30th. Finally, William Blair downgraded shares of Cintas from an “outperform” rating to a “market perform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. Cintas presently has a consensus rating of “Hold” and a consensus price target of $250.09.
Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, March 19th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.14. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Cintas had a net margin of 13.19% and a return on equity of 30.73%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. On average, research analysts expect that Cintas Co. will post 7.9 EPS for the current fiscal year.
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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