Amundi Cuts Stock Position in Cintas Corporation $CTAS

Amundi cut its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,165,438 shares of the business services provider's stock after selling 236,924 shares during the period. Amundi owned 0.54% of Cintas worth $368,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTAS. AMG National Trust Bank bought a new stake in shares of Cintas in the second quarter worth about $1,973,000. Summit Global Investments purchased a new position in Cintas during the 2nd quarter valued at approximately $950,000. TimesSquare Capital Management LLC bought a new stake in Cintas in the 2nd quarter worth approximately $62,057,000. Oppenheimer Asset Management Inc. bought a new stake in Cintas in the 2nd quarter worth approximately $4,972,000. Finally, BlackRock Inc. purchased a new stake in shares of Cintas during the 2nd quarter worth approximately $4,520,425,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $200.47 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. The company has a market capitalization of $80.22 billion, a PE ratio of 53.60, a P/E/G ratio of 3.24 and a beta of 0.91. The company has a 50 day moving average price of $198.09 and a 200-day moving average price of $185.62. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a boost from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. The Goldman Sachs Group reiterated a "buy" rating and issued a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, June 15th. Argus raised shares of Cintas to a "strong-buy" rating in a research note on Friday, July 17th. Finally, UBS Group reaffirmed a "buy" rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Cintas presently has an average rating of "Moderate Buy" and a consensus price target of $212.31.

About Cintas

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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