Public Employees Retirement Association of Colorado Cuts Stock Position in Cintas Co. (NASDAQ:CTAS)

Public Employees Retirement Association of Colorado lowered its holdings in Cintas Co. (NASDAQ:CTAS) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,886 shares of the business services provider’s stock after selling 13,887 shares during the period. Public Employees Retirement Association of Colorado owned about 0.13% of Cintas worth $95,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Cintas by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 10,299,288 shares of the business services provider’s stock worth $6,206,969,000 after purchasing an additional 112,361 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cintas by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 806,369 shares of the business services provider’s stock worth $554,000,000 after purchasing an additional 27,470 shares during the last quarter. Nordea Investment Management AB boosted its position in Cintas by 6.3% in the first quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after purchasing an additional 37,727 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cintas by 21.1% in the second quarter. Acadian Asset Management LLC now owns 387,510 shares of the business services provider’s stock worth $271,323,000 after purchasing an additional 67,440 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Cintas by 123.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 366,044 shares of the business services provider’s stock valued at $256,326,000 after buying an additional 201,955 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $203.74 on Friday. The firm has a market capitalization of $20.67 billion, a P/E ratio of 14.07, a P/E/G ratio of 4.36 and a beta of 1.32. 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 stock’s 50-day simple moving average is $206.29 and its two-hundred day simple moving average is $181.97. Cintas Co. has a twelve month low of $118.68 and a twelve month high of $209.12.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.83 EPS. As a group, equities analysts anticipate that Cintas Co. will post 16.64 EPS for the current fiscal year.

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 paid a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. Cintas’s dividend payout ratio is currently 10.77%.

Cintas declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Cintas from $143.75 to $156.25 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $193.75 price target (up previously from $187.50) on shares of Cintas in a research report on Friday, July 19th. Redburn Atlantic assumed coverage on Cintas in a research report on Friday, August 9th. They set a “neutral” rating and a $167.50 price target on the stock. Wells Fargo & Company raised Cintas to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, UBS Group upped their price target on Cintas from $197.50 to $218.50 and gave the company a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and a consensus target price of $186.30.

Insiders Place Their Bets

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

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.