Illinois Municipal Retirement Fund Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Illinois Municipal Retirement Fund increased its holdings in Cintas Co. (NASDAQ:CTAS) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,391 shares of the business services provider’s stock after acquiring an additional 820 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Cintas were worth $13,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garrison Asset Management LLC bought a new stake in Cintas in the 4th quarter worth about $274,000. RWA Wealth Partners LLC bought a new stake in shares of Cintas during the 4th quarter valued at about $1,571,000. OLD National Bancorp IN grew its stake in shares of Cintas by 2.7% during the 4th quarter. OLD National Bancorp IN now owns 7,140 shares of the business services provider’s stock valued at $4,303,000 after purchasing an additional 189 shares during the period. Brendel Financial Advisors LLC bought a new stake in shares of Cintas during the 4th quarter valued at about $4,897,000. Finally, CWM LLC grew its stake in shares of Cintas by 23.3% during the 4th quarter. CWM LLC now owns 2,216 shares of the business services provider’s stock valued at $1,336,000 after purchasing an additional 419 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on Cintas from $675.00 to $725.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Bank of America boosted their price target on Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Robert W. Baird boosted their price target on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. The Goldman Sachs Group boosted their price target on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $661.21.

Cintas Stock Up 0.5 %

Cintas stock traded up $3.08 during trading hours on Tuesday, reaching $668.08. The stock had a trading volume of 128,065 shares, compared to its average volume of 341,413. The company has a market cap of $67.72 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 3.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The business’s 50 day moving average price is $644.07 and its 200-day moving average price is $590.00. Cintas Co. has a 52 week low of $438.59 and a 52 week high of $704.84.

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

Cintas Announces Dividend

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