B. Metzler seel. Sohn & Co. AG trimmed its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 68.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,510 shares of the business services provider's stock after selling 118,029 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Cintas were worth $9,271,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in CTAS. AMG National Trust Bank purchased a new position in shares of Cintas in the second quarter valued at $1,973,000. Summit Global Investments purchased a new stake in Cintas during the second quarter valued at $950,000. Oppenheimer Asset Management Inc. purchased a new stake in Cintas during the second quarter valued at $4,972,000. TimesSquare Capital Management LLC bought a new position in Cintas during the second quarter valued at $62,057,000. Finally, BlackRock Inc. purchased a new position in shares of Cintas in the 2nd quarter worth $4,520,425,000. 63.46% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "buy" rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. UBS Group reissued a "buy" rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and upped their price objective for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Truist Financial lowered their price objective on Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Finally, Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $212.31.
Read Our Latest Stock Report on Cintas
Cintas Stock Down 1.2%
Shares of NASDAQ CTAS opened at $198.09 on Thursday. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The firm has a 50-day simple moving average of $196.26 and a two-hundred day simple moving average of $185.48. The company has a market cap of $79.27 billion, a P/E ratio of 52.97, a PEG ratio of 3.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.
Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company's quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Research analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.
Cintas Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This is a boost from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 14th. Cintas's payout ratio is 55.61%.
Cintas Profile
(
Free Report)
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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