Cintas Corporation $CTAS Stock Holdings Boosted by Allworth Financial LP

Allworth Financial LP increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 48.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,868 shares of the business services provider's stock after acquiring an additional 8,395 shares during the period. Allworth Financial LP's holdings in Cintas were worth $4,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in shares of Cintas by 16,328.1% in the second quarter. California State Teachers Retirement System now owns 89,228,560 shares of the business services provider's stock worth $15,175,993,000 after purchasing an additional 88,685,413 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Cintas during the second quarter valued at about $4,520,425,000. Norges Bank bought a new stake in shares of Cintas during the fourth quarter valued at about $923,672,000. Bank of New York Mellon Corp acquired a new stake in Cintas in the second quarter worth about $644,334,000. Finally, Legal & General Group Plc acquired a new stake in Cintas in the second quarter worth about $386,159,000. 63.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings raised shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Truist Financial reduced their price target on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Friday, July 17th. UBS Group reiterated 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. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Stock Down 0.8%

Shares of Cintas stock opened at $198.44 on Friday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The firm has a market capitalization of $79.41 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 3.23 and a beta of 0.91. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average is $199.56 and its 200-day moving average is $185.66.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate 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. Equities analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently announced 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%. This is a boost from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas's payout ratio is 55.61%.

Cintas Company Profile

Cintas Corporation is a provider of workplace products and services for businesses across North America. The company helps organizations manage employee appearance, workplace cleanliness, safety, and compliance through a range of recurring service programs.

Its offerings include uniform rental and workwear, branded apparel, entrance mats, restroom supplies, and facility cleaning services. Cintas also provides first-aid and safety products, training, and fire protection services, including inspection and maintenance programs for fire extinguishers, sprinkler systems, alarms, and related equipment.

Headquartered in Mason, Ohio, Cintas traces its roots to a family-operated industrial laundry business established by Richard T.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.