Kentucky Retirement Systems Insurance Trust Fund Acquires 7,362 Shares of Cintas Co. (NASDAQ:CTAS)

Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 264.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,144 shares of the business services provider’s stock after purchasing an additional 7,362 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cintas were worth $2,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CTAS. LGT Financial Advisors LLC lifted its holdings in shares of Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Hollencrest Capital Management boosted its holdings in shares of Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after purchasing an additional 104 shares during the period. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter valued at approximately $27,000. Finally, Addison Advisors LLC increased its position in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. UBS Group lifted their price target on shares of Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective on the stock. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, September 26th. Finally, Truist Financial raised their price target on Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.7 %

NASDAQ CTAS opened at $215.20 on Friday. Cintas Co. has a one year low of $136.50 and a one year high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market capitalization of $86.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 4.40 and a beta of 1.32. The company’s 50-day simple moving average is $221.49 and its two-hundred day simple moving average is $195.50.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the firm posted $3.70 earnings per share. Cintas’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its board has approved a stock buyback plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be paid a $0.39 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

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.