Public Employees Retirement Association of Colorado Trims Position in Cintas Co. (NASDAQ:CTAS)

Public Employees Retirement Association of Colorado cut its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 18.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,988 shares of the business services provider's stock after selling 82,085 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.09% of Cintas worth $66,866,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider's stock valued at $224,312,000 after acquiring an additional 841,952 shares during the period. Virtu Financial LLC lifted its holdings in Cintas by 168.1% during the 3rd quarter. Virtu Financial LLC now owns 14,468 shares of the business services provider's stock worth $2,979,000 after buying an additional 9,072 shares during the period. Morse Asset Management Inc lifted its holdings in Cintas by 299.8% during the 3rd quarter. Morse Asset Management Inc now owns 21,229 shares of the business services provider's stock worth $4,371,000 after buying an additional 15,919 shares during the period. Wealthquest Corp lifted its holdings in Cintas by 285.9% during the 3rd quarter. Wealthquest Corp now owns 14,848 shares of the business services provider's stock worth $3,027,000 after buying an additional 11,000 shares during the period. Finally, Anchor Investment Management LLC lifted its holdings in Cintas by 299.7% during the 3rd quarter. Anchor Investment Management LLC now owns 2,294 shares of the business services provider's stock worth $472,000 after buying an additional 1,720 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cintas

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

Cintas Stock Up 1.2 %

Cintas stock traded up $2.42 during midday trading on Wednesday, reaching $211.68. The stock had a trading volume of 2,053,483 shares, compared to its average volume of 1,700,176. Cintas Co. has a 12 month low of $162.16 and a 12 month high of $228.12. The company has a market capitalization of $85.47 billion, a P/E ratio of 51.04, a PEG ratio of 3.98 and a beta of 1.20. The company has a fifty day moving average price of $201.68 and a two-hundred day moving average price of $204.36. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.

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, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.84 earnings per share. As a group, equities analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Thursday, May 15th. Cintas's payout ratio is 36.11%.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent research reports. Morgan Stanley lifted their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Robert W. Baird lifted their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $215.00 target price on shares of Cintas in a report on Thursday, March 27th. Finally, Bank of America started coverage on Cintas in a research report on Thursday, April 10th. They issued a "buy" rating and a $250.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $213.62.

Cintas 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.