Gateway Investment Advisers LLC Has $206,000 Position in Cintas Co. (NASDAQ:CTAS)

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Gateway Investment Advisers LLC reduced its stake in Cintas Co. (NASDAQ:CTAS) by 76.2% in the 3rd quarter, Holdings Channel reports. The firm owned 769 shares of the business services provider’s stock after selling 2,456 shares during the period. Gateway Investment Advisers LLC’s holdings in Cintas were worth $206,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Cintas by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,033,781 shares of the business services provider’s stock worth $2,380,916,000 after purchasing an additional 382,578 shares during the last quarter. BlackRock Inc. lifted its holdings in Cintas by 2.3% in the 2nd quarter. BlackRock Inc. now owns 5,741,865 shares of the business services provider’s stock worth $1,362,486,000 after purchasing an additional 129,625 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Cintas by 41.1% during the second quarter. Invesco Ltd. now owns 3,146,487 shares of the business services provider’s stock worth $746,630,000 after buying an additional 916,169 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cintas by 11.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,337,285 shares of the business services provider’s stock worth $317,324,000 after buying an additional 136,868 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Cintas by 0.5% during the second quarter. Northern Trust Corp now owns 1,034,141 shares of the business services provider’s stock worth $245,392,000 after buying an additional 4,992 shares during the last quarter. Hedge funds and other institutional investors own 66.37% of the company’s stock.

In other Cintas news, VP Thomas E. Frooman sold 5,373 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $260.79, for a total value of $1,401,224.67. Following the sale, the vice president now directly owns 127,624 shares in the company, valued at $33,283,062.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Lawrence Thompson sold 4,888 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $260.79, for a total value of $1,274,741.52. Following the completion of the sale, the insider now owns 69,053 shares in the company, valued at $18,008,331.87. The disclosure for this sale can be found here. Insiders sold 12,261 shares of company stock worth $3,212,426 over the last quarter. Company insiders own 15.90% of the company’s stock.

CTAS has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on Cintas from $226.00 to $256.00 and gave the stock a “hold” rating in a report on Wednesday, September 25th. Zacks Investment Research upgraded Cintas from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a report on Thursday, September 26th. Morgan Stanley upped their price target on Cintas from $217.00 to $223.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Credit Suisse Group upped their price target on Cintas from $195.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Barclays set a $295.00 price target on Cintas and gave the stock a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Cintas presently has a consensus rating of “Hold” and a consensus price target of $262.40.

Shares of NASDAQ CTAS opened at $269.31 on Monday. The business has a fifty day simple moving average of $260.53 and a 200 day simple moving average of $241.23. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 3.01 and a beta of 1.00. Cintas Co. has a one year low of $155.98 and a one year high of $271.78.

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

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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