3,788,415 Shares in Cintas Corporation $CTAS Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 3,788,415 Cintas shares worth approximately $644.3 million, giving it a 0.95% stake. Institutional investors collectively own 63.46% of the company.
• Analysts maintain a generally positive view, with Cintas receiving a consensus “Moderate Buy” rating and an average price target of $212.31.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.29 in EPS and $2.91 billion in revenue. The company also raised its quarterly dividend to $0.52 per share, equivalent to a 1.0% annualized yield.

Bank of New York Mellon Corp purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,788,415 shares of the business services provider's stock, valued at approximately $644,334,000. Bank of New York Mellon Corp owned approximately 0.95% of Cintas as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in shares of Cintas during the 4th quarter valued at about $25,000. First United Bank & Trust bought a new stake in Cintas during the 1st quarter valued at $25,000. Whipplewood Advisors LLC increased its position in Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock valued at $25,000 after purchasing an additional 137 shares during the period. Swiss RE Ltd. bought a new stake in Cintas during the 4th quarter valued at $25,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas in the fourth quarter valued at about $26,000. Institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTAS shares. Weiss Ratings raised shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research note on Monday, June 15th. Argus upgraded Cintas to a "strong-buy" rating in a research report on Friday, July 17th. Wells Fargo & Company reiterated an "overweight" rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.

Cintas Price Performance

CTAS stock opened at $203.79 on Friday. The business's fifty day moving average price is $191.16 and its 200 day moving average price is $185.08. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $81.55 billion, a PE ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business earned $1.09 EPS. Cintas's revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, sell-side analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. 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 is Friday, August 14th. Cintas's payout ratio is 55.61%.

Cintas Company Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source