California State Teachers Retirement System cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,278 shares of the business services provider’s stock after selling 12,626 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Cintas worth $21,249,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in Cintas during the third quarter valued at about $11,296,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Cintas by 35.3% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 266,155 shares of the business services provider’s stock valued at $33,546,000 after acquiring an additional 69,483 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Cintas by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,485 shares of the business services provider’s stock valued at $34,092,000 after acquiring an additional 9,351 shares during the period. black and white Capital LP bought a new stake in Cintas during the second quarter valued at about $16,385,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Cintas by 6.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 24,845 shares of the business services provider’s stock valued at $3,585,000 after acquiring an additional 1,596 shares during the period. Hedge funds and other institutional investors own 66.75% of the company’s stock.

Cintas Corporation (NASDAQ:CTAS) opened at $158.99 on Wednesday. The company has a market cap of $16,995.95, a PE ratio of 32.50, a PEG ratio of 2.48 and a beta of 0.88. The company has a current ratio of 1.84, a quick ratio of 1.57 and a debt-to-equity ratio of 0.99. Cintas Corporation has a 52-week low of $112.96 and a 52-week high of $161.00.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.18. Cintas had a net margin of 9.79% and a return on equity of 23.71%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. sell-side analysts forecast that Cintas Corporation will post 5.36 EPS for the current fiscal year.

The firm also recently declared an annual dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were given a $1.62 dividend. This represents a yield of 1.07%. The ex-dividend date was Thursday, November 9th. This is a positive change from Cintas’s previous annual dividend of $1.33. Cintas’s dividend payout ratio is 31.89%.

A number of equities research analysts have issued reports on the stock. KeyCorp restated an “overweight” rating and set a $174.00 price target (up from $148.00) on shares of Cintas in a report on Tuesday. Zacks Investment Research raised shares of Cintas from a “hold” rating to a “buy” rating and set a $179.00 price objective for the company in a research report on Tuesday. BidaskClub raised shares of Cintas from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Royal Bank of Canada reaffirmed a “hold” rating and set a $145.00 price objective on shares of Cintas in a research report on Monday, November 20th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $165.00 price objective (up previously from $152.00) on shares of Cintas in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Cintas currently has a consensus rating of “Hold” and a consensus target price of $148.70.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://www.watchlistnews.com/california-state-teachers-retirement-system-sells-12626-shares-of-cintas-corporation-ctas/1773967.html.

Cintas Profile

Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS).

Institutional Ownership by Quarter for Cintas (NASDAQ:CTAS)

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.