Illinois Municipal Retirement Fund Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Illinois Municipal Retirement Fund raised its stake in Cintas Co. (NASDAQ:CTAS) by 3.8% during the 4th quarter, HoldingsChannel reports. The firm owned 22,391 shares of the business services provider’s stock after acquiring an additional 820 shares during the period. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $13,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Columbus Macro LLC boosted its position in Cintas by 1.2% during the fourth quarter. Columbus Macro LLC now owns 1,453 shares of the business services provider’s stock worth $871,000 after purchasing an additional 17 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Cintas by 22.8% in the fourth quarter. Quent Capital LLC now owns 97 shares of the business services provider’s stock worth $59,000 after acquiring an additional 18 shares during the last quarter. Greenleaf Trust lifted its position in Cintas by 1.0% during the third quarter. Greenleaf Trust now owns 1,899 shares of the business services provider’s stock worth $913,000 after buying an additional 19 shares during the period. Catalyst Capital Advisors LLC raised its holdings in shares of Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after purchasing an additional 19 shares during the period. Finally, KMG Fiduciary Partners LLC raised its holdings in shares of Cintas by 1.6% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 1,338 shares of the business services provider’s stock worth $644,000 after purchasing an additional 21 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

Shares of CTAS stock traded up $3.08 during trading hours on Tuesday, hitting $668.08. The company had a trading volume of 128,065 shares, compared to its average volume of 341,413. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 3.87 and a beta of 1.27. The firm’s fifty day moving average is $644.07 and its 200 day moving average is $590.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.14 EPS. On average, sell-side analysts predict that Cintas Co. will post 14.95 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Wednesday, May 15th will be paid a $1.35 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. Cintas’s dividend payout ratio (DPR) is 37.29%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTAS. The Goldman Sachs Group increased their target price on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Barclays increased their target price on Cintas from $630.00 to $700.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada raised their price target on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. Finally, Robert W. Baird lifted their target price on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cintas presently has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Company Profile

Cintas Corporation provides 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.