California State Teachers Retirement System Purchases 88,685,413 Shares of Cintas Corporation $CTAS

California State Teachers Retirement System lifted its position in Cintas Corporation (NASDAQ:CTAS) by 16,328.1% in the second quarter, HoldingsChannel.com reports. The firm owned 89,228,560 shares of the business services provider’s stock after purchasing an additional 88,685,413 shares during the quarter. California State Teachers Retirement System owned about 0.22% of Cintas worth $15,175,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTAS. AMG National Trust Bank bought a new position in Cintas during the second quarter valued at approximately $1,973,000. Summit Global Investments bought a new position in shares of Cintas during the 2nd quarter valued at approximately $950,000. TimesSquare Capital Management LLC purchased a new position in shares of Cintas in the second quarter valued at $62,057,000. Oppenheimer Asset Management Inc. bought a new stake in Cintas in the second quarter worth $4,972,000. Finally, BlackRock Inc. purchased a new stake in Cintas during the second quarter valued at $4,520,425,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $200.47 on Tuesday. The firm has a market capitalization of $80.22 billion, a price-to-earnings ratio of 53.60, a PEG ratio of 3.24 and a beta of 0.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The company has a 50-day moving average of $198.09 and a 200 day moving average of $185.62.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, research analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is currently 55.61%.

Analysts Set New Price Targets

CTAS has been the topic of several recent research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. UBS Group reissued a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Robert W. Baird increased their price objective on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $212.31.

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.