Cintas Corporation (NASDAQ:CTAS) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in shares of Cintas Corporation (NASDAQ:CTAS) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,247 shares of the business services provider’s stock after purchasing an additional 1,843 shares during the period. Meeder Advisory Services Inc.’s holdings in Cintas were worth $3,339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 47 shares during the period. MJP Associates Inc. ADV boosted its stake in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock valued at $441,000 after purchasing an additional 50 shares during the period. Kathmere Capital Management LLC boosted its stake in Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider’s stock valued at $266,000 after purchasing an additional 51 shares during the period. Pinnacle Associates Ltd. boosted its stake in Cintas by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider’s stock valued at $265,000 after purchasing an additional 51 shares during the period. Finally, Wellspring Financial Advisors LLC boosted its stake in Cintas by 4.6% during the 4th quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 52 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Martin Mucci purchased 1,200 shares of the business’s stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Down 1.4%

NASDAQ CTAS opened at $220.38 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The company’s 50 day simple moving average is $221.39 and its 200 day simple moving average is $209.76. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The company has a market capitalization of $88.99 billion, a P/E ratio of 49.97, a PEG ratio of 3.51 and a beta of 1.05.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm earned $3.99 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on CTAS shares. Morgan Stanley boosted their target price on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a research note on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a research note on Monday, July 14th. They issued an “overweight” rating and a $239.00 price target for the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $240.00 price target (up from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Robert W. Baird upped their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $224.54.

About Cintas

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.