Teachers Retirement System of The State of Kentucky Sells 193 Shares of Cintas Co. (NASDAQ:CTAS)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 2.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,859 shares of the business services provider’s stock after selling 193 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Cintas were worth $4,803,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Checchi Capital Advisers LLC lifted its position in shares of Cintas by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 1,651 shares of the business services provider’s stock valued at $1,156,000 after purchasing an additional 14 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of Cintas by 0.5% during the 2nd quarter. Axxcess Wealth Management LLC now owns 2,905 shares of the business services provider’s stock valued at $2,034,000 after purchasing an additional 14 shares during the last quarter. Field & Main Bank raised its position in Cintas by 25.0% in the 2nd quarter. Field & Main Bank now owns 75 shares of the business services provider’s stock worth $53,000 after purchasing an additional 15 shares during the period. Drive Wealth Management LLC increased its stake in Cintas by 3.7% in the 2nd quarter. Drive Wealth Management LLC now owns 448 shares of the business services provider’s stock worth $314,000 after purchasing an additional 16 shares during the period. Finally, TIAA Trust National Association raised its stake in shares of Cintas by 1.2% during the second quarter. TIAA Trust National Association now owns 1,363 shares of the business services provider’s stock valued at $954,000 after acquiring an additional 16 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

NASDAQ:CTAS opened at $205.30 on Thursday. The company has a fifty day simple moving average of $209.77 and a two-hundred day simple moving average of $185.19. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company has a market cap of $20.83 billion, a price-to-earnings ratio of 14.18, a price-to-earnings-growth ratio of 4.09 and a beta of 1.32. Cintas Co. has a 52 week low of $119.73 and a 52 week high of $211.57.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $3.70 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Cintas Co. will post 4.16 earnings per share for the current fiscal year.

Cintas announced that its board has initiated a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Cintas Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, August 15th. Cintas’s dividend payout ratio (DPR) is currently 10.77%.

Insider Transactions at Cintas

In related news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 15.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CTAS shares. Morgan Stanley raised their price objective on shares of Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Robert W. Baird raised their price target on Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group reduced their price target on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Stifel Nicolaus upped their price target on Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Barclays boosted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $199.63.

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.