Cintas Corporation $CTAS Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in Cintas Corporation (NASDAQ:CTAS) by 3.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 665,971 shares of the business services provider’s stock after selling 21,959 shares during the quarter. California Public Employees Retirement System’s holdings in Cintas were worth $148,425,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CTAS. WPG Advisers LLC purchased a new position in Cintas in the first quarter valued at $27,000. Saudi Central Bank acquired a new stake in Cintas in the 1st quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Cintas by 800.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after buying an additional 128 shares during the period. Golden State Wealth Management LLC grew its position in shares of Cintas by 3,925.0% during the second quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after buying an additional 157 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in shares of Cintas by 57.0% during the second quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock worth $37,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup boosted their price target on shares of Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a report on Friday, September 26th. Rothschild Redb raised shares of Cintas from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Sanford C. Bernstein initiated coverage on shares of Cintas in a research note on Wednesday, November 12th. They set a “market perform” rating and a $200.00 target price for the company. Royal Bank Of Canada dropped their target price on Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a report on Thursday, September 25th. Finally, Rothschild & Co Redburn raised Cintas from a “sell” rating to a “neutral” rating and set a $184.00 price target for the company in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $212.71.

Cintas Trading Up 1.5%

NASDAQ CTAS opened at $186.75 on Monday. The firm’s fifty day moving average price is $188.91 and its 200 day moving average price is $206.92. Cintas Corporation has a 12 month low of $180.39 and a 12 month high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The company has a market capitalization of $75.05 billion, a price-to-earnings ratio of 42.35, a price-to-earnings-growth ratio of 3.22 and a beta of 0.96.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, November 14th. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

Cintas announced that its Board of Directors has authorized a share buyback plan on Tuesday, October 28th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

About Cintas

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.