Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Position in Cintas Co. (NASDAQ:CTAS)

Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 264.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,144 shares of the business services provider's stock after buying an additional 7,362 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Cintas were worth $2,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its position 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 worth $26,000 after acquiring an additional 28 shares in the last quarter. Financial Management Professionals Inc. grew its position in 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 buying an additional 99 shares in the last quarter. Hollencrest Capital Management increased its stake in shares of Cintas by 433.3% during the third quarter. Hollencrest Capital Management now owns 128 shares of the business services provider's stock valued at $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. acquired a new stake in shares of Cintas in the second quarter valued at $27,000. Finally, Addison Advisors LLC boosted 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 in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of Cintas stock traded down $1.46 on Friday, hitting $215.20. The stock had a trading volume of 1,792,986 shares, compared to its average volume of 1,168,020. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The stock has a market cap of $86.79 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 4.24 and a beta of 1.32. The business's 50 day moving average is $221.49 and its two-hundred day moving average is $195.50.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.70 EPS. Analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas's payout ratio is 39.39%.

Cintas announced that its board has initiated a share repurchase program on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CTAS shares. UBS Group increased their target price on Cintas from $219.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Morgan Stanley raised their target price on shares of Cintas from $170.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, September 26th. Redburn Atlantic assumed coverage on Cintas in a report on Friday, August 9th. They set a "neutral" rating and a $167.50 price target for the company. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the company an "underweight" rating in a research report on Thursday, September 26th. Finally, Robert W. Baird lifted their price objective on Cintas from $194.00 to $209.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.