MAI Capital Management Sells 880 Shares of Cintas Co. (CTAS)

MAI Capital Management decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,016 shares of the business services provider’s stock after selling 880 shares during the quarter. MAI Capital Management’s holdings in Cintas were worth $1,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CTAS. BlackRock Inc. raised its holdings in Cintas by 0.6% in the first quarter. BlackRock Inc. now owns 6,034,965 shares of the business services provider’s stock valued at $1,029,443,000 after acquiring an additional 33,547 shares in the last quarter. FMR LLC raised its holdings in Cintas by 15.9% in the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after acquiring an additional 344,359 shares in the last quarter. Brown Advisory Inc. raised its holdings in Cintas by 10.5% in the second quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock valued at $296,040,000 after acquiring an additional 151,458 shares in the last quarter. Bessemer Group Inc. raised its holdings in Cintas by 12.6% in the second quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock valued at $240,054,000 after acquiring an additional 145,128 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in Cintas by 0.4% in the second quarter. Frontier Capital Management Co. LLC now owns 845,600 shares of the business services provider’s stock valued at $156,495,000 after acquiring an additional 3,485 shares in the last quarter. 68.71% of the stock is owned by institutional investors and hedge funds.

CTAS stock opened at $210.82 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.55. Cintas Co. has a twelve month low of $134.83 and a twelve month high of $217.34. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 35.49, a P/E/G ratio of 2.53 and a beta of 0.98.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 19th. The business services provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.10. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Cintas had a net margin of 13.01% and a return on equity of 24.03%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. analysts predict that Cintas Co. will post 7.09 earnings per share for the current year.

Several brokerages recently weighed in on CTAS. Robert W. Baird reaffirmed a “buy” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, July 20th. Credit Suisse Group began coverage on shares of Cintas in a report on Friday, August 10th. They issued a “neutral” rating and a $205.00 target price on the stock. Nomura reissued a “hold” rating and set a $188.00 price objective on shares of Cintas in a report on Sunday, July 22nd. Barclays raised their price objective on shares of Cintas from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, July 20th. Finally, Zacks Investment Research cut shares of Cintas from a “buy” rating to a “hold” rating in a report on Monday, May 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $186.25.

About Cintas

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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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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