Teacher Retirement System of Texas Has $29.11 Million Stock Position in Cintas Corporation (NASDAQ:CTAS)

Teacher Retirement System of Texas reduced its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 66.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,634 shares of the business services provider's stock after selling 278,881 shares during the quarter. Teacher Retirement System of Texas' holdings in Cintas were worth $29,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in Cintas in the fourth quarter worth $29,000. IAG Wealth Partners LLC lifted its position in Cintas by 136.8% in the fourth quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock worth $33,000 after purchasing an additional 104 shares during the period. Meeder Asset Management Inc. lifted its position in Cintas by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after purchasing an additional 134 shares during the period. OFI Invest Asset Management bought a new position in Cintas in the fourth quarter worth $37,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Cintas during the fourth quarter valued at $40,000. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of Cintas stock traded down $1.82 during trading on Monday, reaching $217.54. The company's stock had a trading volume of 1,385,480 shares, compared to its average volume of 1,669,500. The stock has a 50-day moving average price of $220.20 and a two-hundred day moving average price of $206.38. 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 one year low of $176.60 and a one year high of $229.24. The stock has a market capitalization of $87.84 billion, a P/E ratio of 50.39, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. Cintas's dividend payout ratio is 36.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Truist Financial lifted their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Argus raised Cintas to a "strong-buy" rating in a report on Wednesday, April 16th. Redburn Atlantic cut Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a report on Thursday, May 1st. Finally, UBS Group lifted their price objective on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $219.58.

Insider Activity

In related news, Director Ronald W. Tysoe sold 8,521 shares of Cintas 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 completion of the transaction, the director directly owned 27,029 shares of the company's stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.00% of the stock is owned by corporate insiders.

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.