Cintas Co. (NASDAQ:CTAS) Shares Acquired by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 264.6% in the third quarter, Holdings Channel reports. The firm owned 10,144 shares of the business services provider’s stock after buying an additional 7,362 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cintas were worth $2,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTAS. Kentucky Retirement Systems boosted its holdings in Cintas by 267.3% in the third quarter. Kentucky Retirement Systems now owns 23,868 shares of the business services provider’s stock worth $4,914,000 after acquiring an additional 17,369 shares in the last quarter. Meridian Investment Counsel Inc. raised its position in shares of Cintas by 300.0% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 2,400 shares of the business services provider’s stock valued at $494,000 after purchasing an additional 1,800 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in Cintas by 301.9% in the 3rd quarter. KCM Investment Advisors LLC now owns 34,632 shares of the business services provider’s stock worth $7,130,000 after purchasing an additional 26,016 shares in the last quarter. Valley Wealth Managers Inc. grew its position in Cintas by 300.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 320 shares of the business services provider’s stock worth $66,000 after purchasing an additional 240 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Cintas by 373.6% during the 3rd quarter. Empowered Funds LLC now owns 19,028 shares of the business services provider’s stock valued at $3,917,000 after purchasing an additional 15,010 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

NASDAQ:CTAS opened at $215.20 on Friday. The stock has a market capitalization of $86.79 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. The stock’s 50-day moving average price is $221.49 and its 200-day moving average price is $195.50. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. Cintas Co. has a 52 week low of $136.50 and a 52 week high of $227.35.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.70 EPS. As a group, equities analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 23rd that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. Cintas’s dividend payout ratio (DPR) is 39.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTAS. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Royal Bank of Canada increased their price objective on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a report on Thursday, September 26th. Barclays lifted their target price on Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, The Goldman Sachs Group increased their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Hold” and a consensus target price of $199.63.

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.