Maryland State Retirement & Pension System Sells 1,294 Shares of Cintas Co. (NASDAQ:CTAS)

Maryland State Retirement & Pension System trimmed its stake in Cintas Co. (NASDAQ:CTAS) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,466 shares of the business services provider’s stock after selling 1,294 shares during the period. Maryland State Retirement & Pension System’s holdings in Cintas were worth $3,374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sound Income Strategies LLC acquired a new stake in shares of Cintas during the 4th quarter worth about $27,000. Endeavor Private Wealth Inc. bought a new stake in Cintas during the fourth quarter worth about $31,000. IAG Wealth Partners LLC increased its holdings in shares of Cintas by 136.8% during the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after buying an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas in the fourth quarter valued at approximately $34,000. Finally, OFI Invest Asset Management bought a new stake in Cintas during the 4th quarter worth approximately $37,000. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS opened at $196.37 on Thursday. The stock has a market cap of $79.24 billion, a P/E ratio of 47.35, a P/E/G ratio of 3.98 and a beta of 1.41. Cintas Co. has a 12 month low of $156.83 and a 12 month high of $228.12. 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 company has a fifty day simple moving average of $200.39 and a 200 day simple moving average of $209.02.

Cintas (NASDAQ:CTAS) last released its quarterly 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 analyst estimates of $2.56 billion. During the same quarter last year, the firm posted $3.61 earnings per share. Cintas’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s payout ratio is currently 37.59%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Robert W. Baird cut their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Citigroup began coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 price objective on the stock. The Goldman Sachs Group dropped their target price on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, UBS Group decreased their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $199.79.

Cintas 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.