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

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

Several other large investors have also made changes to their positions in CTAS. Asset Dedication LLC purchased a new stake in shares of Cintas in the 1st quarter valued at $32,000. HWG Holdings LP acquired a new position in shares of Cintas in the 4th quarter valued at $35,000. Riverview Trust Co acquired a new position in shares of Cintas in the 1st quarter valued at $35,000. MCF Advisors LLC acquired a new position in shares of Cintas in the 1st quarter valued at $39,000. Finally, O Dell Group LLC lifted its stake in shares of Cintas by 466.7% in the 4th quarter. O Dell Group LLC now owns 102 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 84 shares during the period. 76.66% of the stock is owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $407.84 on Tuesday. The firm has a 50-day simple moving average of $414.31 and a 200-day simple moving average of $398.62. The stock has a market capitalization of $41.62 billion, a price-to-earnings ratio of 35.01, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44. The company has a quick ratio of 1.51, a current ratio of 1.84 and a debt-to-equity ratio of 0.75. Cintas Co. has a 52 week low of $343.86 and a 52 week high of $461.44.

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

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a $1.15 dividend. The ex-dividend date was Friday, August 12th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.13%. This is a positive change from Cintas’s previous quarterly dividend of $0.95. Cintas’s dividend payout ratio is currently 39.49%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTAS shares. Wells Fargo & Company started coverage on shares of Cintas in a research note on Tuesday, July 12th. They issued an “equal weight” rating and a $393.00 target price for the company. Morgan Stanley upped their price objective on shares of Cintas from $357.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. Barclays reduced their price objective on shares of Cintas from $500.00 to $435.00 in a research report on Friday, July 15th. Royal Bank of Canada reduced their price objective on shares of Cintas from $475.00 to $450.00 in a research report on Friday, July 15th. Finally, StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Saturday, July 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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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