Cintas Corporation $CTAS Stock Holdings Reduced by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in Cintas Corporation (NASDAQ:CTAS) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 271,821 shares of the business services provider’s stock after selling 15,129 shares during the quarter. New York State Teachers Retirement System’s holdings in Cintas were worth $51,121,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CTAS. Richardson Financial Services Inc. lifted its position in shares of Cintas by 1.1% in the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after buying an additional 54 shares during the last quarter. Woodward Diversified Capital LLC lifted its holdings in Cintas by 4.7% in the 3rd quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock worth $252,000 after purchasing an additional 55 shares during the last quarter. Mather Group LLC. boosted its position in Cintas by 1.4% during the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock worth $824,000 after purchasing an additional 59 shares during the period. Oakworth Capital Inc. raised its position in shares of Cintas by 4.8% in the third quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 60 shares during the period. Finally, Pure Financial Advisors LLC lifted its stake in shares of Cintas by 5.8% in the third quarter. Pure Financial Advisors LLC now owns 1,135 shares of the business services provider’s stock worth $233,000 after buying an additional 62 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 2.9%

Shares of NASDAQ CTAS opened at $169.61 on Friday. Cintas Corporation has a 52-week low of $165.60 and a 52-week high of $229.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a market cap of $67.86 billion, a P/E ratio of 47.91, a P/E/G ratio of 3.08 and a beta of 0.97. The firm has a 50 day moving average price of $183.59 and a 200 day moving average price of $187.22.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the business posted $1.13 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Argus raised shares of Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. Bank of America assumed coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and lifted their price objective for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. Weiss Ratings lowered shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Stifel Nicolaus dropped their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and an average price target of $215.17.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.