Illinois Municipal Retirement Fund Acquires 4,225 Shares of Cintas Corporation (NASDAQ:CTAS)

Illinois Municipal Retirement Fund increased its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,917 shares of the business services provider's stock after purchasing an additional 4,225 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Cintas were worth $19,303,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MJP Associates Inc. ADV grew its holdings in shares of Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after acquiring an additional 50 shares in the last quarter. TIAA Trust National Association raised its holdings in Cintas by 1.0% during the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider's stock worth $983,000 after acquiring an additional 52 shares in the last quarter. Wellspring Financial Advisors LLC boosted its position in Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider's stock valued at $214,000 after purchasing an additional 52 shares during the last quarter. Johnson Financial Group Inc. grew its stake in Cintas by 7.7% in the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after purchasing an additional 52 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in shares of Cintas by 4.2% during the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider's stock worth $270,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Cintas stock opened at $220.44 on Friday. The company has a market capitalization of $89.01 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 3.42 and a beta of 1.07. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24. The stock's 50 day moving average is $218.34 and its 200-day moving average is $205.60.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period in the prior year, the firm posted $3.84 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Insiders Place Their Bets

In related news, COO Jim Rozakis sold 2,000 shares of the business'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 transaction, the chief operating officer now owns 256,528 shares of the company's stock, valued at $48,835,235.36. The trade was a 0.77% 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, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated 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 sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Cintas from $195.00 to $213.00 and gave the company an "equal weight" rating in a report on Thursday, March 27th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Bank of America started coverage on shares of Cintas in a research note on Thursday, April 10th. They set a "buy" rating and a $250.00 price objective on the stock. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $215.81.

About Cintas

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.

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