New York State Common Retirement Fund Decreases Stock Position in Cintas Co. (NASDAQ:CTAS)

New York State Common Retirement Fund cut its holdings in Cintas Co. (NASDAQ:CTAS) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,547 shares of the business services provider’s stock after selling 7,606 shares during the period. New York State Common Retirement Fund owned about 0.09% of Cintas worth $55,172,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Garrison Asset Management LLC acquired a new position in Cintas in the 4th quarter valued at about $274,000. RWA Wealth Partners LLC acquired a new position in Cintas in the 4th quarter valued at about $1,571,000. OLD National Bancorp IN increased its stake in shares of Cintas by 2.7% during the 4th quarter. OLD National Bancorp IN now owns 7,140 shares of the business services provider’s stock valued at $4,303,000 after acquiring an additional 189 shares during the last quarter. Brendel Financial Advisors LLC acquired a new position in shares of Cintas during the 4th quarter valued at about $4,897,000. Finally, CWM LLC increased its stake in shares of Cintas by 23.3% during the 4th quarter. CWM LLC now owns 2,216 shares of the business services provider’s stock valued at $1,336,000 after acquiring an additional 419 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CTAS. Royal Bank of Canada upped their price objective on shares of Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Barclays upped their price objective on shares of Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Robert W. Baird upped their price objective on shares of Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Truist Financial upped their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Stock Up 0.2 %

NASDAQ CTAS opened at $666.33 on Wednesday. The stock has a market cap of $67.55 billion, a PE ratio of 46.02, a P/E/G ratio of 3.90 and a beta of 1.27. Cintas Co. has a fifty-two week low of $438.59 and a fifty-two week high of $704.84. The business has a 50 day moving average price of $645.27 and a two-hundred day moving average price of $591.22. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.14 EPS. As a group, sell-side analysts predict that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Cintas Company Profile

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.