85,700 Shares of Cintas Corporation $CTAS Bought by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund acquired 85,700 Cintas shares during the third quarter, valued at approximately $16.7 million. Institutional investors and hedge funds own 63.46% of the company.
• Cintas reported quarterly earnings of $1.39 per share and revenue of $3.01 billion, beating analyst expectations; revenue increased 10.9% year over year.
• The company raised its quarterly dividend from $0.45 to $0.52 per share, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $218.50.

Adams Diversified Equity Fund Inc. bought a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 85,700 shares of the business services provider's stock, valued at approximately $16,717,000.

A number of other hedge funds also recently made changes to their positions in the business. Precedent Wealth Partners LLC acquired a new stake in Cintas during the third quarter worth approximately $221,000. Woodward Diversified Capital LLC bought a new position in shares of Cintas during the third quarter worth approximately $233,000. Income Insurance Ltd acquired a new stake in Cintas during the 3rd quarter worth approximately $210,000. Albion Financial Group UT bought a new stake in Cintas in the 3rd quarter valued at $179,000. Finally, Sawyer & Company Inc bought a new stake in Cintas in the 3rd quarter valued at $3,135,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Up 1.8%

Shares of NASDAQ CTAS opened at $224.04 on Friday. The company has a market cap of $88.96 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 3.49 and a beta of 0.92. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $202.22 and a two-hundred day moving average price of $188.67. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $225.43.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion for 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 company's revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, analysts forecast that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas's payout ratio is 41.03%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CTAS shares. Truist Financial increased their price objective on Cintas from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Thursday, September 24th. Citigroup boosted their target price on shares of Cintas from $180.00 to $181.00 and gave the company a "sell" rating in a research report on Wednesday, September 30th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $206.00 price target on shares of Cintas in a research report on Thursday, September 24th. Finally, Robert W. Baird set a $222.00 price objective on shares of Cintas and gave the stock an "outperform" rating in a research note on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $218.50.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.

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