New York State Common Retirement Fund Has $55.17 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

New York State Common Retirement Fund decreased its stake in Cintas Co. (NASDAQ:CTAS) by 7.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 91,547 shares of the business services provider’s stock after selling 7,606 shares during the quarter. New York State Common Retirement Fund’s holdings in Cintas were worth $55,172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC lifted its stake in Cintas by 5.5% in the 3rd quarter. FMR LLC now owns 2,352,581 shares of the business services provider’s stock worth $1,131,615,000 after acquiring an additional 123,468 shares in the last quarter. Invesco Ltd. lifted its stake in Cintas by 17.4% in the 3rd quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider’s stock worth $493,331,000 after acquiring an additional 151,783 shares in the last quarter. Northern Trust Corp lifted its stake in Cintas by 7.6% in the 3rd quarter. Northern Trust Corp now owns 1,008,632 shares of the business services provider’s stock worth $485,162,000 after acquiring an additional 71,482 shares in the last quarter. Morgan Stanley lifted its stake in Cintas by 1.9% in the 3rd quarter. Morgan Stanley now owns 823,280 shares of the business services provider’s stock worth $396,007,000 after acquiring an additional 15,053 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Cintas by 16.6% in the 4th quarter. Nordea Investment Management AB now owns 600,311 shares of the business services provider’s stock worth $360,637,000 after acquiring an additional 85,662 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTAS shares. The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. UBS Group raised their price target on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Truist Financial raised their price target on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, 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 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Stock Performance

CTAS opened at $666.33 on Wednesday. The firm has a market capitalization of $67.55 billion, a P/E ratio of 46.02, a price-to-earnings-growth ratio of 3.90 and a beta of 1.27. The stock’s 50 day moving average price is $645.27 and its two-hundred day moving average price is $591.22. The company has a quick ratio of 2.03, a current ratio of 2.38 and a debt-to-equity ratio of 0.58. Cintas Co. has a 12-month low of $438.59 and a 12-month high of $704.84.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.14 EPS. On average, equities analysts forecast that Cintas Co. will post 14.95 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is presently 37.29%.

About Cintas

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.