New York State Teachers Retirement System Cuts Position in Cintas Corporation $CTAS

New York State Teachers Retirement System decreased its position in Cintas Corporation (NASDAQ:CTAS) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 266,870 shares of the business services provider’s stock after selling 4,951 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Cintas worth $45,138,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Cintas during the 2nd quarter worth $625,000. Treasurer of the State of North Carolina lifted its position in shares of Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares during the last quarter. Finally, Ieq Capital LLC grew its stake in shares of Cintas by 50.2% during the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.90% of the stock is currently owned by company insiders.

Cintas Stock Performance

Shares of Cintas stock opened at $181.37 on Friday. The company has a fifty day simple moving average of $172.75 and a 200-day simple moving average of $182.99. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The company has a current ratio of 1.98, a quick ratio of 1.74 and a debt-to-equity ratio of 0.51. The stock has a market cap of $72.56 billion, a price-to-earnings ratio of 51.23, a PEG ratio of 2.89 and a beta of 0.94.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is 50.85%.

Analyst Ratings Changes

Several equities analysts recently commented on CTAS shares. Weiss Ratings lowered Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Stifel Nicolaus decreased their price target on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 11th. Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Finally, Citigroup cut their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $211.25.

About Cintas

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.