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Cintas Co. (NASDAQ:CTAS) Shares Purchased by Teacher Retirement System of Texas

Financial News Live · Jan 20, 2023 13:31

Teacher Retirement System of Texas lifted its position in Cintas Co. (NASDAQ:CTAS – Get Rating) by 11.2% during the third quarter, HoldingsChannel.com reports. The fund owned 64,114 shares of the business services provider's stock after acquiring an additional 6,478 shares during the period. Teacher Retirement System of Texas' holdings in Cintas were worth $24,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. boosted its stake in Cintas by 4.1% during the second quarter. D.A. Davidson & CO. now owns 635 shares of the business services provider's stock worth $237,000 after buying an additional 25 shares during the last quarter. Glassman Wealth Services boosted its stake in Cintas by 22.9% during the second quarter. Glassman Wealth Services now owns 134 shares of the business services provider's stock worth $50,000 after buying an additional 25 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Cintas by 0.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,097 shares of the business services provider's stock worth $2,651,000 after buying an additional 25 shares during the last quarter. Terra Nova Asset Management LLC boosted its stake in Cintas by 2.4% during the third quarter. Terra Nova Asset Management LLC now owns 1,085 shares of the business services provider's stock worth $421,000 after buying an additional 25 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its stake in Cintas by 10.4% during the second quarter. GHP Investment Advisors Inc. now owns 277 shares of the business services provider's stock worth $103,000 after buying an additional 26 shares during the last quarter. 61.92% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on Cintas from $373.00 to $401.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 22nd. Barclays upped their price target on Cintas from $435.00 to $500.00 in a research note on Friday, December 2nd. Stifel Nicolaus upped their price target on Cintas from $415.00 to $435.00 in a research note on Wednesday, September 28th. Robert W. Baird upped their price target on Cintas from $475.00 to $500.00 in a research note on Thursday, December 22nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $463.00 price target on shares of Cintas in a research note on Tuesday, October 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $476.10.

Insiders Place Their Bets

In other Cintas news, Director Melanie W. Barstad sold 2,116 shares of the company's stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $415.43, for a total transaction of $879,049.88. Following the sale, the director now owns 6,250 shares in the company, valued at approximately $2,596,437.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cintas news, Director Melanie W. Barstad sold 2,116 shares of the company's stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $415.43, for a total transaction of $879,049.88. Following the sale, the director now owns 6,250 shares in the company, valued at approximately $2,596,437.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Michael Lawrence Thompson sold 14,795 shares of the company's stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $444.98, for a total value of $6,583,479.10. Following the sale, the chief accounting officer now owns 23,318 shares in the company, valued at approximately $10,376,043.64. The disclosure for this sale can be found here. 15.10% of the stock is owned by company insiders.

Cintas Price Performance

CTAS stock opened at $427.59 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $43.45 billion, a PE ratio of 34.79, a P/E/G ratio of 3.21 and a beta of 1.36. Cintas Co. has a 12-month low of $343.86 and a 12-month high of $470.23. The business's fifty day moving average price is $450.60 and its 200 day moving average price is $423.12.

Cintas (NASDAQ:CTAS – Get Rating) last posted its quarterly earnings data on Wednesday, December 21st. The business services provider reported $3.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.03 by $0.09. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Cintas had a return on equity of 37.89% and a net margin of 15.35%. The company's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 EPS. On average, sell-side analysts anticipate that Cintas Co. will post 12.68 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, February 15th will be issued a dividend of $1.15 per share. The ex-dividend date is Tuesday, February 14th. This represents a $4.60 annualized dividend and a yield of 1.08%. Cintas's dividend payout ratio (DPR) is 37.43%.

About Cintas

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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.