New Mexico Educational Retirement Board Trims Stock Holdings in Cintas Co. (NASDAQ:CTAS)

New Mexico Educational Retirement Board reduced its stake in Cintas Co. (NASDAQ:CTAS) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,336 shares of the business services provider’s stock after selling 400 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Cintas were worth $2,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Guardian Wealth Advisors LLC lifted its position in shares of Cintas by 3.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after acquiring an additional 52 shares in the last quarter. MGB Wealth Management LLC lifted its position in shares of Cintas by 0.7% in the fourth quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after acquiring an additional 52 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Cintas by 2.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock valued at $512,000 after acquiring an additional 55 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Cintas by 3.3% in the fourth quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock valued at $311,000 after acquiring an additional 55 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Cintas by 5.5% in the fourth quarter. Simon Quick Advisors LLC now owns 1,213 shares of the business services provider’s stock valued at $222,000 after purchasing an additional 63 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTAS shares. The Goldman Sachs Group dropped their target price on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Robert W. Baird dropped their target price on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $204.22 on Friday. The company has a market cap of $82.41 billion, a P/E ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a one year low of $152.77 and a one year high of $228.12. The business’s 50-day simple moving average is $197.04 and its 200 day simple moving average is $207.53.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $3.61 EPS. On average, sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s payout ratio is currently 37.61%.

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.