Oregon Public Employees Retirement Fund Grows Stock Position in Cintas Co. (NASDAQ:CTAS)

Oregon Public Employees Retirement Fund grew its position in shares of Cintas Co. (NASDAQ:CTAS) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,384 shares of the business services provider’s stock after acquiring an additional 60 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cintas were worth $5,368,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. PFG Investments LLC acquired a new stake in Cintas during the third quarter worth about $263,000. Pallas Capital Advisors LLC increased its stake in Cintas by 409.4% during the third quarter. Pallas Capital Advisors LLC now owns 5,119 shares of the business services provider’s stock worth $1,071,000 after acquiring an additional 4,114 shares during the last quarter. abrdn plc increased its stake in Cintas by 287.9% during the third quarter. abrdn plc now owns 143,084 shares of the business services provider’s stock worth $29,426,000 after acquiring an additional 106,193 shares during the last quarter. Boston Financial Mangement LLC increased its stake in Cintas by 300.2% during the third quarter. Boston Financial Mangement LLC now owns 2,481 shares of the business services provider’s stock worth $511,000 after acquiring an additional 1,861 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Cintas by 738.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,113 shares of the business services provider’s stock worth $1,053,000 after acquiring an additional 4,503 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $204.31 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $196.31 and a two-hundred day moving average price of $208.59. Cintas Co. has a fifty-two week low of $154.15 and a fifty-two week high of $228.12. The firm has a market cap of $82.45 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted $3.61 EPS. Cintas’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

Analyst Ratings Changes

Several brokerages have commented on CTAS. Citigroup began coverage on Cintas in a research note on Monday. They set a “sell” rating and a $161.00 price target for the company. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Robert W. Baird lowered their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Morgan Stanley increased their target price on Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $199.79.

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.