Cintas Co. (NASDAQ:CTAS) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,624 shares of the business services provider’s stock after selling 5,014 shares during the quarter. California Public Employees Retirement System’s holdings in Cintas were worth $97,404,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Janiczek Wealth Management LLC boosted its position in Cintas by 113.0% during the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 26 shares during the period. Catalyst Capital Advisors LLC boosted its position in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 19 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in Cintas during the 4th quarter valued at approximately $46,000. Oakworth Capital Inc. acquired a new position in Cintas during the 4th quarter valued at approximately $48,000. Finally, Raleigh Capital Management Inc. boosted its position in Cintas by 66.7% during the 3rd quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Cintas in a research report on Monday, April 1st. The Goldman Sachs Group boosted their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Bank of America boosted their target price on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Finally, Truist Financial boosted their target price on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $664.13 on Thursday. Cintas Co. has a one year low of $438.59 and a one year high of $704.84. The business’s 50-day moving average price is $646.30 and its two-hundred day moving average price is $591.73. The company has a market capitalization of $67.32 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03.

Cintas (NASDAQ:CTAS) last announced 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. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the firm earned $3.14 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.81%. Cintas’s dividend payout ratio is currently 37.29%.

About Cintas

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.