California Public Employees Retirement System Acquires 78,383 Shares of Cintas Co. (NASDAQ:CTAS)

California Public Employees Retirement System lifted its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 967,917 shares of the business services provider's stock after buying an additional 78,383 shares during the quarter. California Public Employees Retirement System owned about 0.24% of Cintas worth $176,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTAS. Fisher Asset Management LLC grew its position in shares of Cintas by 178.3% in the third quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider's stock valued at $507,000 after purchasing an additional 1,576 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Cintas by 290.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 127,559 shares of the business services provider's stock valued at $26,287,000 after buying an additional 94,882 shares in the last quarter. Icon Wealth Advisors LLC increased its position in Cintas by 297.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 632 shares of the business services provider's stock worth $130,000 after buying an additional 473 shares during the period. Captrust Financial Advisors boosted its position in shares of Cintas by 264.6% in the third quarter. Captrust Financial Advisors now owns 95,299 shares of the business services provider's stock valued at $19,620,000 after acquiring an additional 69,164 shares during the period. Finally, Verition Fund Management LLC grew its stake in shares of Cintas by 164.1% in the third quarter. Verition Fund Management LLC now owns 13,920 shares of the business services provider's stock valued at $2,866,000 after acquiring an additional 8,649 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

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Cintas Stock Performance

NASDAQ:CTAS traded down $2.59 on Thursday, reaching $206.08. 1,194,932 shares of the company's stock were exchanged, compared to its average volume of 1,631,082. The stock has a fifty day simple moving average of $201.48 and a 200-day simple moving average of $204.64. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12. The firm has a market cap of $83.16 billion, a price-to-earnings ratio of 49.72, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.84 earnings per share. As a group, sell-side analysts predict that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, February 14th. Cintas's dividend payout ratio is presently 36.11%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Truist Financial lifted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Royal Bank of Canada reissued a "sector perform" rating and set a $215.00 price target on shares of Cintas in a research report on Thursday, March 27th. Robert W. Baird lifted their price objective on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, UBS Group upped their target price on Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $210.58.

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.