Oregon Public Employees Retirement Fund Raises Stock Holdings in Cintas Corporation (NASDAQ:CTAS)

Oregon Public Employees Retirement Fund lifted its stake in Cintas Corporation (NASDAQ:CTAS) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,504 shares of the business services provider’s stock after buying an additional 120 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cintas were worth $6,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MJP Associates Inc. ADV increased its stake in Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider’s stock worth $441,000 after buying an additional 50 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of Cintas by 1.0% in the fourth quarter. TIAA Trust National Association now owns 5,380 shares of the business services provider’s stock worth $983,000 after acquiring an additional 52 shares during the period. Wellspring Financial Advisors LLC grew its position in shares of Cintas by 4.6% during the fourth quarter. Wellspring Financial Advisors LLC now owns 1,171 shares of the business services provider’s stock worth $214,000 after purchasing an additional 52 shares in the last quarter. Johnson Financial Group Inc. grew its position in shares of Cintas by 7.7% during the fourth quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider’s stock worth $146,000 after purchasing an additional 52 shares in the last quarter. Finally, Portside Wealth Group LLC raised its stake in Cintas by 4.2% during the 1st quarter. Portside Wealth Group LLC now owns 1,314 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 53 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total transaction of $380,740.00. Following the sale, the chief operating officer directly owned 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronald W. Tysoe sold 8,521 shares of Cintas stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director owned 27,029 shares of the company’s stock, valued at approximately $5,647,979.84. This trade represents a 23.97% decrease in their position. The disclosure for this sale can be found here. Insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

CTAS has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a research report on Monday, June 9th. Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 target price for the company. in a research note on Thursday, May 1st. UBS Group boosted their price target on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $219.58.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $218.83 on Friday. The firm has a fifty day simple moving average of $219.80 and a two-hundred day simple moving average of $205.92. Cintas Corporation has a 52 week low of $174.44 and a 52 week high of $229.24. The company has a quick ratio of 1.50, a current ratio of 1.72 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $88.36 billion, a P/E ratio of 50.68, a PEG ratio of 3.36 and a beta of 1.05.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were given a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 annualized dividend and a yield of 0.71%. Cintas’s dividend payout ratio is currently 36.11%.

About Cintas

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.