Illinois Municipal Retirement Fund Acquires 3,927 Shares of Cintas Co. (NASDAQ:CTAS)

Illinois Municipal Retirement Fund grew its position in Cintas Co. (NASDAQ:CTAS) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,692 shares of the business services provider’s stock after acquiring an additional 3,927 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $16,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. State Street Corp raised its position in Cintas by 299.3% during the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the period. FMR LLC lifted its position in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after buying an additional 6,571,128 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock worth $1,693,654,000 after buying an additional 6,235,052 shares during the period. Franklin Resources Inc. increased its position in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after acquiring an additional 1,904,926 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Citigroup assumed coverage on Cintas in a report on Monday. They issued a “sell” rating and a $161.00 price objective for the company. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, UBS Group lowered their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Cintas stock opened at $203.35 on Tuesday. Cintas Co. has a 52-week low of $154.15 and a 52-week high of $228.12. The firm has a market cap of $82.06 billion, a PE ratio of 49.03, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $196.36 and its two-hundred day moving average is $208.51.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the business posted $3.61 earnings per share. Cintas’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, February 14th. Cintas’s dividend payout ratio is currently 37.59%.

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.