New York State Common Retirement Fund Decreases Stock Position in Cintas Corporation $CTAS

New York State Common Retirement Fund decreased its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 405,484 shares of the business services provider’s stock after selling 7,704 shares during the period. New York State Common Retirement Fund’s holdings in Cintas were worth $90,370,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Alpha Financial Partners LLC boosted its stake in shares of Cintas by 2.9% in the 2nd quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider’s stock valued at $357,000 after buying an additional 45 shares during the period. Portside Wealth Group LLC raised its holdings in Cintas by 3.5% in the second quarter. Portside Wealth Group LLC now owns 1,360 shares of the business services provider’s stock valued at $303,000 after acquiring an additional 46 shares in the last quarter. Elyxium Wealth LLC raised its holdings in Cintas by 3.8% in the second quarter. Elyxium Wealth LLC now owns 1,322 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 48 shares in the last quarter. Oarsman Capital Inc. lifted its stake in Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider’s stock worth $272,000 after acquiring an additional 49 shares during the last quarter. Finally, Independent Wealth Network Inc. grew its holdings in Cintas by 4.8% during the 2nd quarter. Independent Wealth Network Inc. now owns 1,077 shares of the business services provider’s stock worth $240,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTAS shares. Rothschild Redb raised shares of Cintas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Citigroup boosted their target price on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. Redburn Partners set a $184.00 target price on Cintas in a report on Tuesday, November 11th. Sanford C. Bernstein initiated coverage on Cintas in a report on Wednesday, November 12th. They set a “market perform” rating and a $200.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $212.71.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $186.10 on Friday. Cintas Corporation has a 12 month low of $180.39 and a 12 month high of $229.24. The firm has a market capitalization of $74.79 billion, a P/E ratio of 42.20, a P/E/G ratio of 3.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The company’s fifty day moving average price is $190.60 and its 200 day moving average price is $208.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Cintas’s revenue for the quarter was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, sell-side analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, November 14th. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

Cintas announced that its board has authorized a stock buyback plan on Tuesday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Cintas Company Profile

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.