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

California State Teachers Retirement System lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS – Get Rating) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 151,513 shares of the business services provider’s stock after selling 3,341 shares during the quarter. California State Teachers Retirement System’s holdings in Cintas were worth $58,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. HWG Holdings LP purchased a new position in shares of Cintas during the 3rd quarter valued at about $27,000. Quent Capital LLC raised its position in Cintas by 169.2% during the third quarter. Quent Capital LLC now owns 70 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 44 shares in the last quarter. Asset Dedication LLC acquired a new position in Cintas in the third quarter valued at approximately $29,000. Ronald Blue Trust Inc. purchased a new stake in Cintas in the 2nd quarter worth approximately $39,000. Finally, Clearstead Advisors LLC acquired a new stake in shares of Cintas during the 3rd quarter worth approximately $39,000. 61.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cintas from $490.00 to $507.00 and gave the stock a “buy” rating in a report on Thursday, December 22nd. StockNews.com began coverage on Cintas in a research report on Thursday. They set a “buy” rating on the stock. Royal Bank of Canada upped their price target on Cintas from $450.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, November 28th. Morgan Stanley raised their price objective on Cintas from $373.00 to $401.00 and gave the company an “equal weight” rating in a report on Thursday, December 22nd. Finally, Barclays upped their target price on Cintas from $435.00 to $500.00 in a research note on Friday, December 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $476.10.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $435.61 on Friday. The business’s 50 day moving average price is $439.95 and its 200-day moving average price is $431.10. Cintas Co. has a 1 year low of $343.86 and a 1 year high of $470.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.53. The firm has a market capitalization of $44.27 billion, a PE ratio of 35.44, a P/E/G ratio of 3.02 and a beta of 1.34.

Cintas (NASDAQ:CTAS – Get Rating) last released its earnings results on Wednesday, December 21st. The business services provider reported $3.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.09. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Cintas had a net margin of 15.35% and a return on equity of 37.89%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 earnings per share. As a group, equities research analysts expect that Cintas Co. will post 12.68 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.43%.

Insider Transactions at Cintas

In related news, CFO J. Michael Hansen sold 1,618 shares of the stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $441.85, for a total value of $714,913.30. Following the completion of the sale, the chief financial officer now owns 30,132 shares of the company’s stock, valued at $13,313,824.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Michael Lawrence Thompson sold 14,795 shares of the company’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $444.98, for a total value of $6,583,479.10. Following the completion of the sale, the chief accounting officer now owns 23,318 shares of the company’s stock, valued at $10,376,043.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO J. Michael Hansen sold 1,618 shares of Cintas stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $441.85, for a total transaction of $714,913.30. Following the transaction, the chief financial officer now directly owns 30,132 shares in the company, valued at $13,313,824.20. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.

About Cintas

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Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.