Teachers Retirement System of The State of Kentucky Lowers Stock Position in Cintas Co. (NASDAQ:CTAS)

Teachers Retirement System of The State of Kentucky decreased its holdings in Cintas Co. (NASDAQ:CTASGet Rating) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,421 shares of the business services provider’s stock after selling 279 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cintas were worth $2,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cintas by 32.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,694 shares of the business services provider’s stock valued at $34,326,000 after purchasing an additional 19,900 shares during the period. M Holdings Securities Inc. purchased a new position in shares of Cintas in the first quarter valued at approximately $359,000. Neuberger Berman Group LLC boosted its stake in shares of Cintas by 1.6% in the first quarter. Neuberger Berman Group LLC now owns 166,764 shares of the business services provider’s stock valued at $70,933,000 after purchasing an additional 2,568 shares during the period. Toroso Investments LLC boosted its stake in shares of Cintas by 13.3% in the first quarter. Toroso Investments LLC now owns 1,845 shares of the business services provider’s stock valued at $785,000 after purchasing an additional 216 shares during the period. Finally, Magnolia Wealth Management LLC purchased a new position in shares of Cintas in the first quarter valued at approximately $1,876,000. Hedge funds and other institutional investors own 76.66% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $407.84 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.51 and a debt-to-equity ratio of 0.75. The firm has a market cap of $41.62 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44. The company’s 50 day simple moving average is $414.31 and its 200-day simple moving average is $398.62. Cintas Co. has a 12-month low of $343.86 and a 12-month high of $461.44.

Cintas (NASDAQ:CTASGet Rating) last announced its earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. As a group, equities analysts predict that Cintas Co. will post 12.14 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, August 12th. This is a positive change from Cintas’s previous quarterly dividend of $0.95. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.13%. Cintas’s dividend payout ratio (DPR) is 39.49%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays reduced their target price on shares of Cintas from $500.00 to $435.00 in a report on Friday, July 15th. Royal Bank of Canada reduced their target price on shares of Cintas from $475.00 to $450.00 in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Cintas from $517.00 to $465.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a report on Saturday, July 23rd. Finally, Morgan Stanley raised their target price on shares of Cintas from $357.00 to $362.00 and gave the company an “equal weight” rating in a report on Friday, July 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $435.89.

Cintas Company Profile

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Cintas Corporation provides 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.

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Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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