Retirement Systems of Alabama Cuts Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Retirement Systems of Alabama lessened its holdings in Cintas Co. (NASDAQ:CTAS) by 0.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 74,222 shares of the business services provider’s stock after selling 381 shares during the quarter. Retirement Systems of Alabama’s holdings in Cintas were worth $13,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC boosted its stake in shares of Cintas by 262.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 1,299 shares of the business services provider’s stock valued at $267,000 after buying an additional 941 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Cintas by 209.7% during the 3rd quarter. Brookstone Capital Management now owns 1,081 shares of the business services provider’s stock worth $223,000 after purchasing an additional 732 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in shares of Cintas by 300.0% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 1,400 shares of the business services provider’s stock worth $288,000 after purchasing an additional 1,050 shares during the period. CWM LLC grew its stake in shares of Cintas by 422.3% during the 3rd quarter. CWM LLC now owns 28,571 shares of the business services provider’s stock worth $5,882,000 after purchasing an additional 23,101 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Cintas by 272.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 589 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 431 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group decreased their target price on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company dropped their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.46.

Cintas Trading Down 1.1 %

Shares of Cintas stock opened at $202.06 on Friday. Cintas Co. has a fifty-two week low of $150.70 and a fifty-two week high of $228.12. The business’s fifty day moving average is $199.35 and its two-hundred day moving average is $206.94. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $81.54 billion, a PE ratio of 48.72, a P/E/G ratio of 3.87 and a beta of 1.38.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.61 earnings per share. Analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio (DPR) is 37.61%.

Cintas Company Profile

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.