Retirement Systems of Alabama Sells 473 Shares of Cintas Co. (NASDAQ:CTAS)

Retirement Systems of Alabama decreased its holdings in Cintas Co. (NASDAQ:CTAS) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,080 shares of the business services provider’s stock after selling 473 shares during the period. Retirement Systems of Alabama’s holdings in Cintas were worth $11,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CTAS. Janiczek Wealth Management LLC boosted its stake in shares of Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after acquiring an additional 26 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Cintas by 33.9% during the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after buying an additional 19 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Cintas by 66.7% during the third quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock valued at $41,000 after buying an additional 34 shares during the last quarter. Ancora Advisors LLC boosted its stake in Cintas by 2,833.3% during the third quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock valued at $43,000 after buying an additional 85 shares during the last quarter. Finally, Operose Advisors LLC boosted its stake in Cintas by 944.4% during the third quarter. Operose Advisors LLC now owns 94 shares of the business services provider’s stock valued at $45,000 after buying an additional 85 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTAS. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Barclays increased their price target on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Royal Bank of Canada increased their price target on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. UBS Group increased their price target on Cintas from $680.00 to $790.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Finally, The Goldman Sachs Group upped their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $661.21.

Cintas Trading Up 0.8 %

Shares of NASDAQ CTAS opened at $663.59 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The business’s 50 day moving average price is $651.02 and its 200-day moving average price is $597.11. Cintas Co. has a fifty-two week low of $454.70 and a fifty-two week high of $704.84. The company has a market cap of $67.27 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 3.90 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the business posted $3.14 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $5.40 annualized dividend and a yield of 0.81%. Cintas’s payout ratio is currently 37.29%.

About Cintas

Cintas Corporation provides 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.