Kentucky Retirement Systems Insurance Trust Fund Grows Stake in Cintas Corporation (NASDAQ:CTAS)

Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 182.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,056 shares of the business services provider's stock after acquiring an additional 6,490 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Cintas were worth $2,067,000 at the end of the most recent quarter.

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

Cintas Stock Performance

Shares of Cintas stock traded up $2.30 during trading hours on Tuesday, hitting $223.20. 1,461,079 shares of the company's stock traded hands, compared to its average volume of 1,701,621. The stock has a market capitalization of $90.13 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 3.45 and a beta of 1.07. Cintas Corporation has a 12-month low of $172.20 and a 12-month high of $229.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.72 and a quick ratio of 1.50. The company has a fifty day simple moving average of $217.46 and a 200-day simple moving average of $205.29.

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

Cintas Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Thursday, May 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Analyst Ratings Changes

CTAS has been the subject of a number of research analyst reports. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 target price (up from $215.00) on shares of Cintas in a report on Monday, June 9th. Citigroup began coverage on shares of Cintas in a research note on Monday, February 24th. They set a "sell" rating and a $161.00 price target for the company. UBS Group lifted their price objective on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Wells Fargo & Company upped their target price on shares of Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $215.81.

Insider Buying and Selling at Cintas

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

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.