Cintas Co. (NASDAQ:CTAS) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its stake in shares of Cintas Co. (NASDAQ:CTAS) by 289.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 317,255 shares of the business services provider’s stock after purchasing an additional 235,825 shares during the quarter. New York State Teachers Retirement System’s holdings in Cintas were worth $65,316,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Cintas by 343.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 111,599 shares of the business services provider’s stock valued at $22,976,000 after acquiring an additional 86,460 shares in the last quarter. Creative Planning increased its stake in Cintas by 34.4% during the 2nd quarter. Creative Planning now owns 19,351 shares of the business services provider’s stock worth $13,551,000 after buying an additional 4,957 shares during the period. Western Financial Corp CA lifted its holdings in Cintas by 628.2% in the 3rd quarter. Western Financial Corp CA now owns 11,797 shares of the business services provider’s stock worth $2,429,000 after buying an additional 10,177 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Cintas by 2,063.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 23,800 shares of the business services provider’s stock worth $16,666,000 after buying an additional 22,700 shares in the last quarter. Finally, Searle & CO. lifted its holdings in Cintas by 300.0% in the 3rd quarter. Searle & CO. now owns 7,200 shares of the business services provider’s stock worth $1,482,000 after buying an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $207.85 on Thursday. 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 fifty-two week low of $125.62 and a fifty-two week high of $215.37. The firm has a 50-day simple moving average of $217.38 and a 200 day simple moving average of $191.29. The company has a market cap of $21.09 billion, a PE ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio (DPR) is 10.77%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Truist Financial boosted their price objective on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada boosted their price objective on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus upped their target price on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cintas presently has a consensus rating of “Hold” and an average target price of $199.63.

Cintas Company Profile

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.