Gateway Investment Advisers LLC Sells 371 Shares of Cintas Co. (CTAS)

Gateway Investment Advisers LLC trimmed its position in shares of Cintas Co. (NASDAQ:CTAS) by 10.2% during the first quarter, HoldingsChannel reports. The firm owned 3,270 shares of the business services provider’s stock after selling 371 shares during the period. Gateway Investment Advisers LLC’s holdings in Cintas were worth $661,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CTAS. Paloma Partners Management Co acquired a new position in Cintas during the 3rd quarter valued at about $1,053,000. The Manufacturers Life Insurance Company grew its stake in shares of Cintas by 22.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 112,309 shares of the business services provider’s stock worth $22,216,000 after purchasing an additional 20,697 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Cintas by 15.1% in the 3rd quarter. Pacer Advisors Inc. now owns 8,885 shares of the business services provider’s stock worth $1,758,000 after purchasing an additional 1,164 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Cintas in the 3rd quarter worth approximately $344,000. Finally, Man Group plc grew its stake in shares of Cintas by 192.7% in the 3rd quarter. Man Group plc now owns 39,737 shares of the business services provider’s stock worth $7,861,000 after purchasing an additional 26,161 shares during the last quarter. 67.04% of the stock is currently owned by hedge funds and other institutional investors.

Cintas stock opened at $209.94 on Thursday. The company has a market capitalization of $21.89 billion, a PE ratio of 35.34, a PEG ratio of 2.29 and a beta of 1.08. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.80. Cintas Co. has a fifty-two week low of $155.98 and a fifty-two week high of $217.34.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, March 21st. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.13. The business had revenue of $1.68 million for the quarter, compared to the consensus estimate of $1.69 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The firm’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. On average, equities research analysts predict that Cintas Co. will post 7.46 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on CTAS shares. BidaskClub cut shares of Cintas from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. ValuEngine raised shares of Cintas from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and set a $166.50 price objective on the stock in a research note on Thursday, January 3rd. They noted that the move was a valuation call. Northcoast Research reaffirmed a “neutral” rating on shares of Cintas in a research note on Friday, December 21st. Finally, Credit Suisse Group lowered their price objective on shares of Cintas from $205.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, December 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $194.45.

In related news, insider Michael Lawrence Thompson sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $200.60, for a total transaction of $200,600.00. Following the completion of the sale, the insider now directly owns 64,165 shares in the company, valued at $12,871,499. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Frooman sold 2,415 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $207.81, for a total transaction of $501,861.15. Following the sale, the vice president now owns 122,251 shares of the company’s stock, valued at $25,404,980.31. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,155 shares of company stock worth $1,658,496. 19.10% of the stock is currently owned by insiders.

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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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