Public Employees Retirement System of Ohio Lowers Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Public Employees Retirement System of Ohio decreased its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,996 shares of the business services provider's stock after selling 10,036 shares during the period. Public Employees Retirement System of Ohio's holdings in Cintas were worth $30,510,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in Cintas by 26.7% during the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after acquiring an additional 468,950 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Cintas by 28.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider's stock worth $1,199,000 after acquiring an additional 1,450 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cintas by 137.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider's stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Alpine Global Management LLC purchased a new stake in Cintas during the 4th quarter worth about $284,000. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Cintas by 1,177.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 21,314 shares of the business services provider's stock worth $3,894,000 after purchasing an additional 19,646 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Stock Performance

Cintas stock traded up $3.59 during mid-day trading on Tuesday, reaching $225.88. 1,603,808 shares of the company were exchanged, compared to its average volume of 1,705,864. Cintas Co. has a twelve month low of $164.93 and a twelve month high of $228.12. The firm's 50-day simple moving average is $207.97 and its two-hundred day simple moving average is $205.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $91.21 billion, a PE ratio of 54.46, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business posted $3.84 EPS. Cintas's quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts predict that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, May 15th. Cintas's payout ratio is currently 36.11%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTAS. Robert W. Baird upped their price target on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Citigroup began coverage on Cintas in a report on Monday, February 24th. They set a "sell" rating and a $161.00 price target on the stock. UBS Group upped their price target on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a report on Thursday, May 1st. Finally, Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $213.88.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 8,521 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares of the company's stock, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jim Rozakis sold 2,000 shares of the firm's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by company insiders.

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.