Victory Capital Management Inc. Reduces Position in Cintas Corporation (NASDAQ:CTAS)

Victory Capital Management Inc. trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 367,115 shares of the business services provider’s stock after selling 5,584 shares during the quarter. Victory Capital Management Inc.’s holdings in Cintas were worth $75,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Cyrus J. Lawrence LLC purchased a new stake in shares of Cintas during the fourth quarter valued at $29,000. Meeder Asset Management Inc. boosted its position in shares of Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider’s stock worth $35,000 after buying an additional 134 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of Cintas during the fourth quarter worth approximately $40,000. Lee Danner & Bass Inc. acquired a new stake in shares of Cintas in the 4th quarter valued at $42,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 181 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $221.92 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.50 and a current ratio of 1.72. The company has a market capitalization of $89.61 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 3.34 and a beta of 1.05. The company has a 50-day moving average of $220.85 and a 200-day moving average of $207.77. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.30%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.99 EPS. As a group, equities research analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Bank of America initiated coverage on shares of Cintas in a research note on Thursday, April 10th. They set a “buy” rating and a $250.00 target price on the stock. Argus raised shares of Cintas to a “strong-buy” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday. They set an “overweight” rating and a $239.00 target price for the company. Finally, UBS Group increased their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $220.96.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other 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, as well as sells uniforms.