California Public Employees Retirement System Lowers Holdings in Cintas Corporation (CTAS)

California Public Employees Retirement System lowered its position in shares of Cintas Corporation (NASDAQ:CTAS) by 2.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 226,193 shares of the business services provider’s stock after selling 4,717 shares during the quarter. California Public Employees Retirement System owned about 0.21% of Cintas worth $32,635,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Cintas by 4.4% during the 2nd quarter. Parallel Advisors LLC now owns 900 shares of the business services provider’s stock worth $121,000 after acquiring an additional 38 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in Cintas during the 2nd quarter worth about $120,000. QS Investors LLC lifted its holdings in shares of Cintas by 1.0% in the 2nd quarter. QS Investors LLC now owns 995 shares of the business services provider’s stock valued at $125,000 after buying an additional 10 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in shares of Cintas by 3.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,056 shares of the business services provider’s stock valued at $133,000 after buying an additional 33 shares during the period. Finally, First Personal Financial Services lifted its holdings in shares of Cintas by 0.8% in the 2nd quarter. First Personal Financial Services now owns 1,147 shares of the business services provider’s stock valued at $145,000 after buying an additional 9 shares during the period. 66.85% of the stock is owned by institutional investors.

Cintas Corporation (CTAS) opened at $158.00 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Cintas Corporation has a 52 week low of $112.96 and a 52 week high of $159.83. The firm has a market capitalization of $16,796.03, a PE ratio of 32.11, a P/E/G ratio of 2.46 and a beta of 0.88.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Cintas had a return on equity of 23.71% and a net margin of 9.79%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned $1.26 EPS. Cintas’s revenue for the quarter was up 27.2% compared to the same quarter last year. research analysts forecast that Cintas Corporation will post 5.36 earnings per share for the current year.

The firm also recently declared an annual dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were paid a $1.62 dividend. This represents a dividend yield of 1.07%. The ex-dividend date was Thursday, November 9th. This is a positive change from Cintas’s previous annual dividend of $1.33. Cintas’s payout ratio is currently 31.89%.

Several equities analysts have recently issued reports on CTAS shares. Robert W. Baird set a $152.00 price objective on Cintas and gave the company a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, October 10th. Barclays boosted their price objective on Cintas from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Wednesday, September 27th. Deutsche Bank reissued a “hold” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Cintas in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $138.00 price objective (up previously from $136.00) on shares of Cintas in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $144.67.

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Cintas Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

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