Public Employees Retirement System of Ohio Sells 10,036 Shares of Cintas Co. (NASDAQ:CTAS)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC bought a new position in shares of Cintas in the 4th quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new position in shares of Cintas in the 4th quarter worth about $29,000. IAG Wealth Partners LLC raised its position in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after acquiring an additional 104 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Cintas in the 4th quarter worth about $34,000. Finally, Meeder Asset Management Inc. increased its position in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after buying an additional 134 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cintas

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

Wall Street Analyst Weigh In

A number of analysts recently commented on CTAS shares. Truist Financial boosted their target price on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. UBS Group boosted their target price on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their target price on Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Finally, Morgan Stanley boosted their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of "Hold" and an average price target of $213.88.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded down $0.46 during trading on Thursday, hitting $224.62. 284,239 shares of the company were exchanged, compared to its average volume of 1,697,015. The company has a market cap of $90.70 billion, a PE ratio of 54.17, a P/E/G ratio of 3.98 and a beta of 1.09. Cintas Co. has a 52-week low of $164.93 and a 52-week high of $228.41. The stock has a 50 day moving average of $209.27 and a 200 day moving average of $205.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

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

Cintas Announces Dividend

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

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.