Westpac Banking Corp decreased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,859 shares of the business services provider’s stock after selling 3,980 shares during the quarter. Westpac Banking Corp’s holdings in Cintas were worth $21,323,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Cintas by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 451,053 shares of the business services provider’s stock valued at $75,772,000 after purchasing an additional 13,371 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 1,168,562 shares of the business services provider’s stock valued at $195,972,000 after purchasing an additional 66,402 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Cintas in the 1st quarter valued at $247,000. First Bank & Trust boosted its stake in shares of Cintas by 20.9% in the 1st quarter. First Bank & Trust now owns 2,949 shares of the business services provider’s stock valued at $596,000 after purchasing an additional 509 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Cintas by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,276 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

In other news, VP Thomas E. Frooman sold 5,373 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 value of $1,401,224.67. Following the completion of the sale, the vice president now directly owns 127,624 shares of the company’s stock, valued at approximately $33,283,062.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Lawrence Thompson sold 4,888 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 $1,274,741.52. Following the completion of the sale, the insider now directly owns 69,053 shares of the company’s stock, valued at $18,008,331.87. The disclosure for this sale can be found here. Corporate insiders own 19.10% of the company’s stock.

CTAS traded up $4.91 during trading on Tuesday, hitting $266.31. 22,719 shares of the stock traded hands, compared to its average volume of 673,446. The company has a market cap of $27.00 billion, a price-to-earnings ratio of 35.01, a P/E/G ratio of 3.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.98 and a quick ratio of 1.69. The company has a 50-day moving average price of $250.25. Cintas Co. has a 12-month low of $155.98 and a 12-month high of $266.56.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $2.07 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 EPS. As a group, equities research analysts expect that Cintas Co. will post 8.45 EPS for the current fiscal year.

CTAS has been the subject of a number of research reports. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $273.00 price objective for the company in a research note on Thursday, July 18th. William Blair reaffirmed a “buy” rating on shares of Cintas in a research note on Thursday, June 20th. Bank of America increased their price target on shares of Cintas from $261.00 to $287.00 and gave the company a “buy” rating in a research report on Tuesday. Credit Suisse Group increased their price target on shares of Cintas from $160.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, July 17th. Finally, BidaskClub raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $241.44.

Cintas 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.

Featured Article: Municipal Bonds

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Co. (NASDAQ:CTAS).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.