Allworth Financial LP Invests $4.40 Million in Cintas Corporation $CTAS

Allworth Financial LP purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,868 shares of the business services provider's stock, valued at approximately $4,400,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC lifted its position in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas in the 2nd quarter worth approximately $625,000. Treasurer of the State of North Carolina boosted its position in Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after purchasing an additional 35,781 shares during the period. Finally, Ieq Capital LLC boosted its position in Cintas by 50.2% during the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock worth $20,710,000 after purchasing an additional 31,068 shares during the period. Institutional investors own 63.46% of the company's stock.

Cintas Trading Up 0.2%

Shares of Cintas stock opened at $203.52 on Friday. The company's fifty day simple moving average is $190.61 and its 200-day simple moving average is $184.95. The company has a market cap of $81.44 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 3.28 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16.

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

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. Cintas's payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTAS shares. Bank of America raised shares of Cintas from a "neutral" rating to a "buy" rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Argus upgraded shares of Cintas to a "strong-buy" rating in a research note on Friday, July 17th. The Goldman Sachs Group reiterated a "buy" rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. One 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 assigned a Sell rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.

Cintas 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.

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