New York State Teachers Retirement System Sells 13,581 Shares of Cintas Co. (NASDAQ:CTAS)

New York State Teachers Retirement System trimmed its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,674 shares of the business services provider's stock after selling 13,581 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Cintas worth $55,481,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTAS. CX Institutional grew its position in Cintas by 308.1% during the 3rd quarter. CX Institutional now owns 1,975 shares of the business services provider's stock worth $407,000 after purchasing an additional 1,491 shares during the last quarter. Creative Planning boosted its stake in shares of Cintas by 356.6% during the 3rd quarter. Creative Planning now owns 88,354 shares of the business services provider's stock worth $18,190,000 after acquiring an additional 69,003 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Cintas in the third quarter valued at $231,000. Good Life Advisors LLC purchased a new position in Cintas during the 3rd quarter valued at about $1,255,000. Finally, Global Retirement Partners LLC raised its position in shares of Cintas by 321.9% during the 3rd quarter. Global Retirement Partners LLC now owns 21,889 shares of the business services provider's stock worth $4,507,000 after purchasing an additional 16,701 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CTAS. Truist Financial decreased their price objective on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. The Goldman Sachs Group cut their price target on Cintas from $236.00 to $211.00 and set a "buy" rating on the stock in a research note on Friday, December 20th. Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Finally, UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Cintas has a consensus rating of "Hold" and a consensus price target of $198.46.

Cintas Price Performance

CTAS traded up $4.40 on Wednesday, hitting $208.14. 2,326,136 shares of the stock were exchanged, compared to its average volume of 1,718,194. The business has a 50-day moving average of $196.84 and a two-hundred day moving average of $207.96. 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 12 month low of $152.77 and a 12 month high of $228.12. The firm has a market capitalization of $83.99 billion, a price-to-earnings ratio of 50.18, a PEG ratio of 3.94 and a beta of 1.38.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business posted $3.61 earnings per share. Cintas's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas's payout ratio is presently 37.61%.

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.