Sumitomo Mitsui Trust Holdings Inc. Reduces Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Cintas Co. (NASDAQ:CTAS) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,191 shares of the business services provider’s stock after selling 13,075 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.36% of Cintas worth $89,266,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. GYL Financial Synergies LLC purchased a new stake in Cintas during the first quarter worth $797,000. Roman Butler Fullerton & Co. boosted its holdings in Cintas by 10.7% during the first quarter. Roman Butler Fullerton & Co. now owns 2,238 shares of the business services provider’s stock worth $452,000 after buying an additional 217 shares in the last quarter. Sonora Investment Management LLC acquired a new position in Cintas during the second quarter worth $42,000. CIBC World Markets Inc. raised its position in Cintas by 103.4% during the first quarter. CIBC World Markets Inc. now owns 36,130 shares of the business services provider’s stock worth $7,302,000 after acquiring an additional 18,363 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in Cintas by 44.1% during the first quarter. Parametric Portfolio Associates LLC now owns 366,772 shares of the business services provider’s stock worth $74,128,000 after acquiring an additional 112,296 shares during the period. 68.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Michael Lawrence Thompson sold 4,888 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total transaction of $1,274,741.52. Following the completion of the sale, the insider now directly owns 69,053 shares in the company, valued at $18,008,331.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas E. Frooman sold 5,373 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total transaction of $1,401,224.67. Following the sale, the vice president now owns 127,624 shares of the company’s stock, valued at $33,283,062.96. The disclosure for this sale can be found here. 19.10% of the stock is currently owned by company insiders.

A number of research firms have weighed in on CTAS. BidaskClub upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada upped their price objective on shares of Cintas to $267.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Nomura upped their price objective on shares of Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. William Blair restated a “buy” rating on shares of Cintas in a research report on Thursday, June 20th. Finally, Credit Suisse Group upped their price objective on shares of Cintas from $160.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Cintas currently has a consensus rating of “Buy” and an average target price of $228.06.

Shares of NASDAQ CTAS traded down $0.87 during mid-day trading on Friday, reaching $263.42. The company’s stock had a trading volume of 239,018 shares, compared to its average volume of 672,079. The business has a 50-day simple moving average of $248.43. The firm has a market cap of $26.49 billion, a PE ratio of 34.66, a P/E/G ratio of 3.00 and a beta of 0.99. The company has a quick ratio of 1.69, a current ratio of 1.98 and a debt-to-equity ratio of 0.85. Cintas Co. has a 1-year low of $155.98 and a 1-year high of $266.56.

Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, July 16th. The business services provider reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.13. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Cintas had a net margin of 12.80% and a return on equity of 26.77%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, equities analysts predict that Cintas Co. will post 8.45 EPS for the current fiscal year.

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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