SBI Securities Co. Ltd. Sells 248 Shares of Cintas Corporation (NASDAQ:CTAS)

SBI Securities Co. Ltd. reduced its position in Cintas Corporation (NASDAQ:CTAS) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,777 shares of the business services provider’s stock after selling 248 shares during the period. SBI Securities Co. Ltd.’s holdings in Cintas were worth $3,037,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Cintas during the 4th quarter valued at $877,216,000. GAMMA Investing LLC lifted its stake in Cintas by 19,644.3% during the 1st quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock valued at $465,133,000 after acquiring an additional 2,251,629 shares in the last quarter. Winslow Capital Management LLC bought a new position in Cintas during the 4th quarter valued at $196,057,000. Northern Trust Corp lifted its stake in Cintas by 13.1% during the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after acquiring an additional 472,069 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock worth $407,163,000 after purchasing an additional 468,950 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Trading Up 0.7%

Shares of CTAS opened at $216.90 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The firm has a market cap of $87.58 billion, a P/E ratio of 50.24, a price-to-earnings-growth ratio of 3.36 and a beta of 1.05. Cintas Corporation has a fifty-two week low of $178.42 and a fifty-two week high of $229.24. The business has a 50-day moving average of $220.74 and a 200 day moving average of $207.42.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of recent analyst reports. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. The Goldman Sachs Group lifted their target price on Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. UBS Group lifted their target price on Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Bank of America initiated coverage on Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cintas presently has a consensus rating of “Hold” and an average price target of $220.96.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.