Illinois Municipal Retirement Fund Decreases Stake in Cintas Corporation $CTAS

Illinois Municipal Retirement Fund lessened its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,341 shares of the business services provider’s stock after selling 29,576 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $14,340,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTAS. Fidelis Capital Partners LLC boosted its position in Cintas by 3.8% during the second quarter. Fidelis Capital Partners LLC now owns 8,358 shares of the business services provider’s stock worth $1,875,000 after acquiring an additional 308 shares during the last quarter. Profund Advisors LLC lifted its stake in Cintas by 16.7% in the 2nd quarter. Profund Advisors LLC now owns 34,878 shares of the business services provider’s stock worth $7,773,000 after purchasing an additional 4,981 shares in the last quarter. Midwest Trust Co acquired a new position in shares of Cintas during the 2nd quarter worth approximately $15,198,000. Prescott Group Capital Management L.L.C. grew its position in shares of Cintas by 3.0% in the second quarter. Prescott Group Capital Management L.L.C. now owns 21,422 shares of the business services provider’s stock valued at $4,774,000 after purchasing an additional 628 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Cintas by 7.7% in the second quarter. Acadian Asset Management LLC now owns 1,540,424 shares of the business services provider’s stock valued at $343,281,000 after purchasing an additional 109,691 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Royal Bank Of Canada lowered their price objective on Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 25th. Citigroup lifted their price target on Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a report on Friday, September 26th. Wells Fargo & Company dropped their price objective on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cintas in a research note on Wednesday, October 8th. Finally, UBS Group boosted their target price on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and an average target price of $222.09.

Cintas Stock Up 0.1%

Shares of CTAS opened at $185.25 on Tuesday. The company’s 50-day moving average price is $195.55 and its 200 day moving average price is $210.93. Cintas Corporation has a 12-month low of $180.39 and a 12-month high of $229.24. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The firm has a market cap of $74.45 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas declared that its board has approved a stock repurchase program on Tuesday, October 28th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 14th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is presently 40.82%.

About Cintas

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.