Cintas Corporation $CTAS Stock: EULAV Asset Management Trims Stake

Key Points

• EULAV Asset Management reduced its Cintas stake by 6% in the third quarter, selling 21,220 shares and retaining 330,415 shares valued at approximately $64.5 million. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly earnings expectations, reporting $1.39 EPS and $3.01 billion in revenue, with revenue rising 10.9% year over year. The company also increased its quarterly dividend to $0.52 per share.
• Analyst sentiment remains positive, with Cintas receiving a “Moderate Buy” consensus rating and an average price target of $218.50, despite shares opening near their 12-month high at $224.10.

EULAV Asset Management lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,415 shares of the business services provider's stock after selling 21,220 shares during the period. Cintas accounts for approximately 2.3% of EULAV Asset Management's holdings, making the stock its 7th biggest position. EULAV Asset Management owned 0.08% of Cintas worth $64,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTAS. AMG National Trust Bank bought a new position in Cintas during the second quarter valued at approximately $1,973,000. Summit Global Investments bought a new stake in Cintas in the second quarter worth $950,000. TimesSquare Capital Management LLC bought a new stake in Cintas in the second quarter worth $62,057,000. Oppenheimer Asset Management Inc. bought a new stake in Cintas in the second quarter worth $4,972,000. Finally, BlackRock Inc. purchased a new stake in Cintas during the second quarter valued at $4,520,425,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

CTAS stock opened at $224.10 on Monday. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $225.79. The stock has a market capitalization of $88.99 billion, a price-to-earnings ratio of 44.20, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92. The company has a quick ratio of 1.29, a current ratio of 1.45 and a debt-to-equity ratio of 0.27. The firm's fifty day simple moving average is $202.71 and its two-hundred day simple moving average is $189.03.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $1.20 EPS. The business's revenue was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, analysts anticipate that Cintas Corporation will post 5.53 earnings per share for the current year.

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus boosted their target price on shares of Cintas from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Jefferies Financial Group increased their price target on shares of Cintas from $200.00 to $210.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. Wells Fargo & Company reissued an "overweight" rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group raised their price objective on Cintas from $231.00 to $239.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cintas presently has an average rating of "Moderate Buy" and an average price target of $218.50.

About Cintas

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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