California State Teachers Retirement System Cuts Holdings in Cintas Corporation $CTAS

California State Teachers Retirement System lowered its stake in Cintas Corporation (NASDAQ:CTAS) by 3.3% during the first quarter, Holdings Channel.com reports. The firm owned 543,147 shares of the business services provider’s stock after selling 18,536 shares during the quarter. California State Teachers Retirement System’s holdings in Cintas were worth $91,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. One Capital Management LLC raised its holdings in Cintas by 0.9% in the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in Cintas by 1.1% during the 4th quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock worth $951,000 after acquiring an additional 54 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock valued at $1,236,000 after purchasing an additional 58 shares during the last quarter. Sachetta LLC increased its position in shares of Cintas by 46.0% in the 1st quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 63 shares during the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in Cintas by 2.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock worth $510,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of several recent analyst reports. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. UBS Group reiterated a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Robert W. Baird boosted their price target on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Finally, Truist Financial lowered their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Up 0.8%

CTAS opened at $216.53 on Thursday. The stock has a market capitalization of $86.63 billion, a price-to-earnings ratio of 57.90, a price-to-earnings-growth ratio of 3.47 and a beta of 0.94. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The business has a 50-day moving average of $181.79 and a two-hundred day moving average of $183.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, research analysts expect that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 48.13%.

Cintas Profile

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.