Kentucky Retirement Systems Sells 13,271 Shares of Cintas Corporation $CTAS

Kentucky Retirement Systems cut its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 61.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,315 shares of the business services provider’s stock after selling 13,271 shares during the quarter. Kentucky Retirement Systems’ holdings in Cintas were worth $1,406,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CTAS. State Street Corp grew its holdings in shares of Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after purchasing an additional 210,477 shares during the last quarter. Geode Capital Management LLC raised its position in Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after purchasing an additional 97,220 shares during the period. Norges Bank bought a new stake in Cintas in the fourth quarter worth $923,672,000. Morgan Stanley lifted its stake in Cintas by 0.8% in the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Cintas by 4.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider’s stock valued at $504,702,000 after buying an additional 112,622 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

NASDAQ:CTAS opened at $204.63 on Friday. The firm’s fifty day simple moving average is $183.11 and its 200 day simple moving average is $184.12. The stock has a market cap of $81.89 billion, a P/E ratio of 54.71, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $226.75.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts predict that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 48.13%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CTAS. Robert W. Baird raised their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Truist Financial reduced their price target on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.31.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.