AMI Asset Management Corp Cuts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

AMI Asset Management Corp reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 139,110 shares of the business services provider’s stock after selling 1,729 shares during the period. Cintas comprises approximately 1.9% of AMI Asset Management Corp’s holdings, making the stock its 26th largest position. AMI Asset Management Corp’s holdings in Cintas were worth $37,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Segment Wealth Management LLC acquired a new position in Cintas during the third quarter worth about $3,393,000. Squar Milner Financial Services LLC grew its position in Cintas by 44.1% during the third quarter. Squar Milner Financial Services LLC now owns 565 shares of the business services provider’s stock worth $151,000 after buying an additional 173 shares during the period. Klingman & Associates LLC acquired a new position in Cintas during the third quarter worth about $200,000. OLD National Bancorp IN grew its position in Cintas by 15.0% during the third quarter. OLD National Bancorp IN now owns 18,099 shares of the business services provider’s stock worth $4,853,000 after buying an additional 2,362 shares during the period. Finally, Horan Securities Inc. grew its position in Cintas by 192.3% during the third quarter. Horan Securities Inc. now owns 304 shares of the business services provider’s stock worth $82,000 after buying an additional 200 shares during the period. 67.06% of the stock is owned by hedge funds and other institutional investors.

CTAS stock opened at $268.13 on Thursday. The company’s 50 day simple moving average is $260.98 and its 200-day simple moving average is $242.82. The firm has a market capitalization of $27.54 billion, a PE ratio of 35.28, a P/E/G ratio of 2.99 and a beta of 1.00. Cintas Co. has a 12 month low of $155.98 and a 12 month high of $271.96. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 24th. The business services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.15 by $0.17. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. Cintas had a net margin of 13.18% and a return on equity of 28.61%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.93 earnings per share. As a group, sell-side analysts anticipate that Cintas Co. will post 8.57 earnings per share for the current year.

Several brokerages have weighed in on CTAS. Barclays set a $295.00 target price on shares of Cintas and gave the stock a “buy” rating in a research report on Friday, September 27th. BidaskClub lowered shares of Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. ValuEngine lowered shares of Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their target price on shares of Cintas from $226.00 to $256.00 and gave the stock a “hold” rating in a research report on Wednesday, September 25th. Finally, Morgan Stanley upped their target price on shares of Cintas from $217.00 to $223.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $262.40.

In related news, CAO Michael Lawrence Thompson sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $268.23, for a total transaction of $536,460.00. Following the transaction, the chief accounting officer now owns 62,906 shares of the company’s stock, valued at $16,873,276.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.90% of the stock is owned by corporate insiders.

Cintas Company Profile

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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