Cintas Corporation $CTAS Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its Cintas stake by 5.7% in the second quarter, selling 7,036 shares and retaining 117,263 shares valued at approximately $19.9 million. Institutional investors collectively own 63.46% of CTAS.
• Cintas beat quarterly expectations with EPS of $1.29 and revenue of $2.91 billion, up 8.9% year over year. The company raised its quarterly dividend to $0.52 from $0.45.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $212.31, despite shares trading down 0.9% and at a relatively high P/E ratio of 54.41.

Handelsbanken Fonder AB reduced its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,263 shares of the business services provider's stock after selling 7,036 shares during the quarter. Handelsbanken Fonder AB's holdings in Cintas were worth $19,944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Riverbridge Partners LLC lifted its holdings in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider's stock worth $38,760,000 after purchasing an additional 16,437 shares during the period. SEB Asset Management AB purchased a new stake in Cintas during the first quarter worth $22,366,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cintas by 2,286.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider's stock worth $138,536,000 after buying an additional 705,751 shares in the last quarter. Suncoast Equity Management grew its position in shares of Cintas by 53.7% during the 4th quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider's stock valued at $4,485,000 after acquiring an additional 8,330 shares during the period. Finally, King Luther Capital Management Corp grew its holdings in Cintas by 0.7% in the fourth quarter. King Luther Capital Management Corp now owns 1,812,112 shares of the business services provider's stock valued at $340,804,000 after purchasing an additional 12,204 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Down 0.9%

Shares of CTAS opened at $203.51 on Thursday. The firm has a 50-day moving average price of $188.04 and a 200 day moving average price of $184.56. The firm has a market capitalization of $81.44 billion, a P/E ratio of 54.41, a P/E/G ratio of 3.31 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 12-month low of $161.16 and a 12-month high of $225.85.

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

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Cintas's payout ratio is presently 48.13%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CTAS shares. Truist Financial dropped their target price on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, June 15th. Robert W. Baird boosted their price objective on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Argus raised Cintas to a "strong-buy" rating in a report on Friday, July 17th. Royal Bank Of Canada restated a "sector perform" rating and issued a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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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