Kentucky Retirement Systems Lowers Holdings in Cintas Corporation $CTAS

Kentucky Retirement Systems lessened its position in Cintas Corporation (NASDAQ:CTAS) by 61.5% during the 1st quarter, according to the company in 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 period. Kentucky Retirement Systems’ holdings in Cintas were worth $1,406,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after purchasing an additional 108 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after buying an additional 428 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Cintas during the second quarter valued at approximately $625,000. Treasurer of the State of North Carolina lifted its position in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares during the period. Finally, Ieq Capital LLC boosted its holdings in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird raised their price target on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a research report on Friday, July 17th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Price Performance

NASDAQ CTAS opened at $204.63 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The stock has a market cap of $81.89 billion, a price-to-earnings ratio of 54.71, a PEG ratio of 3.34 and a beta of 0.94. The company’s 50 day moving average is $183.11 and its two-hundred day moving average is $184.12.

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

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is currently 48.13%.

About Cintas

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.