15,410 Cintas Corporation $CTAS Shares Purchased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Cintas stake by 217.5% in the third quarter, purchasing 15,410 additional shares for a total position valued at approximately $4.39 million. Institutional investors collectively own 63.46% of CTAS.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.39 in EPS on $3.01 billion in revenue, with sales up 10.9% year over year. The company also raised its quarterly dividend to $0.52 per share, yielding about 1.0% annually.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $218.50; individual targets range from $206 to $250.

First Citizens Bank & Trust Co. grew its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 217.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,494 shares of the business services provider's stock after purchasing an additional 15,410 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Cintas were worth $4,388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTAS. BlackRock Inc. acquired a new position in Cintas during the 2nd quarter valued at approximately $4,520,425,000. Bank of New York Mellon Corp acquired a new stake in shares of Cintas during the second quarter worth $644,334,000. Legal & General Group Plc acquired a new stake in shares of Cintas during the second quarter worth $386,159,000. Bank of America Corp DE purchased a new stake in shares of Cintas during the second quarter valued at $233,111,000. Finally, Deutsche Bank AG purchased a new stake in shares of Cintas during the second quarter valued at $204,831,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Price Performance

NASDAQ:CTAS opened at $208.63 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. The company has a 50 day moving average price of $200.56 and a 200-day moving average price of $186.72. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The firm has a market cap of $82.84 billion, a price-to-earnings ratio of 41.15, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.04. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Equities research analysts forecast that Cintas Corporation will post 5.52 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Cintas's previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 14th. Cintas's dividend payout ratio (DPR) is presently 41.03%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CTAS shares. Argus upped their target price on Cintas from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Tuesday, September 29th. Robert W. Baird set a $222.00 price target on Cintas and gave the stock an "outperform" rating in a research report on Thursday, September 24th. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $206.00 price target on shares of Cintas in a research note on Thursday, September 24th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cintas currently has an average rating of "Moderate Buy" and a consensus target price of $218.50.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.