Sheaff Brock Investment Advisors LLC Sells 132 Shares of Cintas Corporation (NASDAQ:CTAS)

Sheaff Brock Investment Advisors LLC reduced its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,989 shares of the business services provider’s stock after selling 132 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Cintas were worth $2,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. GAMMA Investing LLC grew its stake in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider’s stock valued at $465,133,000 after buying an additional 2,251,629 shares during the last quarter. Winslow Capital Management LLC bought a new position in shares of Cintas during the fourth quarter valued at about $196,057,000. Northern Trust Corp grew its stake in shares of Cintas by 13.1% during the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider’s stock valued at $743,048,000 after buying an additional 472,069 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Cintas by 26.7% during the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider’s stock valued at $407,163,000 after buying an additional 468,950 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Cintas by 150.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 719,059 shares of the business services provider’s stock valued at $131,372,000 after buying an additional 431,570 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CTAS shares. Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Bank of America began coverage on Cintas in a research note on Thursday, April 10th. They issued a “buy” rating and a $250.00 target price on the stock. Wells Fargo & Company raised Cintas from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. Redburn Atlantic cut Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. began coverage on Cintas in a research note on Monday, July 14th. They issued an “overweight” rating and a $239.00 target price on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cintas has a consensus rating of “Hold” and an average target price of $224.54.

Cintas Price Performance

CTAS stock opened at $223.56 on Monday. The firm has a 50 day moving average price of $221.44 and a 200-day moving average price of $209.54. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The firm has a market capitalization of $90.27 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 3.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the business earned $3.99 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Martin Mucci bought 1,200 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director owned 2,621 shares in the company, valued at approximately $583,303.55. This represents a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.00% of the company’s stock.

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.