Strs Ohio Buys 7,764 Shares of Cintas Corporation $CTAS

Key Points

• Strs Ohio increased its stake in Cintas by 6.5%, buying 7,764 shares and now owns 127,879 shares valued at $24,050,000, while institutional investors own about 63.46% of the company.
• Cintas reported quarterly results on March 25 with EPS of $1.24 (in line with estimates) and $2.84 billion in revenue, a slight beat and an 8.9% year‑over‑year revenue increase.
• The company declared a quarterly dividend of $0.45 per share (annualized $1.80), payable on June 15 to shareholders of record on May 15, implying about a 1.1% yield and a 50.85% payout ratio.

Strs Ohio boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,879 shares of the business services provider's stock after acquiring an additional 7,764 shares during the quarter. Strs Ohio's holdings in Cintas were worth $24,050,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in Cintas during the 3rd quarter worth about $29,000. Camelot Portfolios LLC bought a new stake in Cintas during the 4th quarter worth about $26,000. Key Capital Management INC bought a new stake in Cintas during the 4th quarter worth about $28,000. Alpine Bank Wealth Management increased its position in Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after purchasing an additional 153 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in Cintas in the fourth quarter worth about $32,000. Institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

Cintas Price Performance

Cintas stock opened at $169.61 on Friday. The firm has a market capitalization of $67.86 billion, a P/E ratio of 47.91, a PEG ratio of 2.99 and a beta of 0.97. Cintas Corporation has a 1 year low of $165.60 and a 1 year high of $229.24. The business has a 50-day moving average of $183.59 and a 200-day moving average of $187.22. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51.

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

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, May 15th. Cintas's payout ratio is 50.85%.

Analysts Set New Price Targets

A number of analysts recently commented on CTAS shares. UBS Group reiterated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective for the company. Citigroup lowered their price objective on Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and lifted their price objective for the stock from $205.00 to $245.00 in a research report on Wednesday, January 14th. Finally, Argus upgraded Cintas to a "strong-buy" rating in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cintas currently has a consensus rating of "Hold" and a consensus 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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