Cintas Corporation $CTAS Shares Bought by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas increased its stake in Cintas by 45.7% in Q4, buying an additional 47,563 shares to hold 151,714 shares worth $28.53 million.
• Cintas reported Q results with EPS of $1.24 (in line with consensus) and revenue of $2.84 billion, up 8.9% year‑over‑year, and analysts forecast about 4.89 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.45 (annualized $1.80, ~1.0% yield, DPR 50.85%), payable June 15 to shareholders of record on May 15 (ex-dividend May 15).

Teacher Retirement System of Texas grew its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,714 shares of the business services provider's stock after acquiring an additional 47,563 shares during the quarter. Teacher Retirement System of Texas' holdings in Cintas were worth $28,533,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Cintas during the 3rd quarter valued at about $29,000. Key Capital Management INC acquired a new position in shares of Cintas during the 4th quarter valued at about $28,000. Alpine Bank Wealth Management increased its stake in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. WPG Advisers LLC boosted its holdings in Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock valued at $35,000 after acquiring an additional 81 shares during the last quarter. Finally, Aventura Private Wealth LLC acquired a new position in Cintas in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Trading Up 1.7%

NASDAQ:CTAS opened at $177.62 on Friday. The business's 50-day moving average is $185.66 and its two-hundred day moving average is $187.94. The firm has a market capitalization of $71.06 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 3.07 and a beta of 1.01. Cintas Corporation has a 12 month low of $165.60 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company's revenue was up 8.9% compared to the same quarter last year. Research analysts predict that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas's dividend payout ratio (DPR) is 50.85%.

Insider Transactions at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company's stock, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.90% of the stock is owned by company insiders.

Analyst Ratings Changes

CTAS has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Bank of America initiated coverage on Cintas in a report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 target price on the stock. Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and lifted their target price for the company from $205.00 to $245.00 in a report on Wednesday, January 14th. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a "sell" rating on the stock in a report on Tuesday, March 31st. Finally, Weiss Ratings cut Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $215.17.

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.

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