Boys Arnold & Co. Inc. Lowers Stake in Cintas Co. (CTAS)

Boys Arnold & Co. Inc. lowered its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 5,180 shares of the business services provider’s stock after selling 200 shares during the period. Boys Arnold & Co. Inc.’s holdings in Cintas were worth $655,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Cintas during the third quarter valued at approximately $3,548,000. Nationwide Fund Advisors increased its stake in Cintas by 61.5% in the third quarter. Nationwide Fund Advisors now owns 39,402 shares of the business services provider’s stock valued at $4,437,000 after buying an additional 15,000 shares in the last quarter. Solaris Asset Management LLC increased its stake in Cintas by 1.1% in the third quarter. Solaris Asset Management LLC now owns 39,239 shares of the business services provider’s stock valued at $4,418,000 after buying an additional 440 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Cintas by 6.6% in the third quarter. Quadrant Capital Group LLC now owns 1,203 shares of the business services provider’s stock valued at $132,000 after buying an additional 74 shares in the last quarter. Finally, Conning Inc. increased its stake in Cintas by 4.9% in the third quarter. Conning Inc. now owns 2,342 shares of the business services provider’s stock valued at $264,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 66.28% of the company’s stock.

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Shares of Cintas Co. (NASDAQ:CTAS) traded up 0.257% during midday trading on Thursday, reaching $122.965. The company had a trading volume of 204,335 shares. The company has a market capitalization of $12.95 billion, a P/E ratio of 25.501 and a beta of 0.87. The company has a 50-day moving average price of $122.33 and a 200 day moving average price of $115.99. Cintas Co. has a one year low of $88.51 and a one year high of $128.85.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. Cintas had a return on equity of 24.80% and a net margin of 10.37%. The company earned $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. Cintas’s revenue was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Cintas Co. will post $4.53 earnings per share for the current fiscal year.

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Several equities research analysts have recently commented on CTAS shares. Royal Bank of Canada restated a “sector perform” rating on shares of Cintas in a report on Tuesday, December 27th. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Tuesday, January 10th. William Blair restated an “outperform” rating on shares of Cintas in a report on Wednesday, January 18th. Deutsche Bank AG started coverage on Cintas in a report on Wednesday, February 22nd. They set a “hold” rating and a $120.00 price objective for the company. Finally, Piper Jaffray Companies boosted their price objective on Cintas from $117.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Cintas presently has an average rating of “Hold” and an average price target of $129.20.

In related news, VP Thomas E. Frooman sold 11,500 shares of Cintas stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $127.23, for a total value of $1,463,145.00. Following the completion of the sale, the vice president now owns 74,466 shares of the company’s stock, valued at $9,474,309.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO J. Michael Hansen sold 5,477 shares of Cintas stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $125.72, for a total value of $688,568.44. Following the completion of the sale, the chief financial officer now directly owns 40,974 shares of the company’s stock, valued at approximately $5,151,251.28. The disclosure for this sale can be found here. Insiders own 19.10% of the company’s stock.

Cintas Company Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

5 Day Chart for NASDAQ:CTAS

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).

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