Cintas Corporation $CTAS Stock: State of Alaska Department of Revenue Grows Stake

Key Points

• State of Alaska Department of Revenue more than doubled its Cintas stake in the third quarter, increasing holdings by 126% to 133,033 shares valued at approximately $25.9 million. Institutional investors collectively own 63.46% of CTAS.
• Cintas exceeded quarterly expectations, reporting $1.39 in EPS and $3.01 billion in revenue, with revenue up 10.9% year over year. The company also raised its quarterly dividend to $0.52 per share, representing a 1.0% annualized yield.
• Analyst sentiment remains favorable, with 10 Buy, six Hold, and one Sell rating; the stock has a consensus “Moderate Buy” rating and an average price target of $218.50.

State of Alaska Department of Revenue boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 126.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,033 shares of the business services provider's stock after buying an additional 74,174 shares during the quarter. State of Alaska Department of Revenue's holdings in Cintas were worth $25,949,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CTAS. BlackRock Inc. purchased a new stake in shares of Cintas during the second quarter valued at about $4,520,425,000. Bank of New York Mellon Corp bought a new stake in shares of Cintas in the 2nd quarter valued at about $644,334,000. Legal & General Group Plc purchased a new position in shares of Cintas in the 2nd quarter worth approximately $386,159,000. Bank of America Corp DE purchased a new position in shares of Cintas in the 2nd quarter worth approximately $233,111,000. Finally, Deutsche Bank AG bought a new position in shares of Cintas during the 2nd quarter worth approximately $204,831,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

CTAS stock traded up $3.89 during trading on Thursday, reaching $212.52. The company had a trading volume of 619,181 shares, compared to its average volume of 2,113,233. The firm has a 50-day simple moving average of $200.56 and a 200-day simple moving average of $186.72. The company has a market cap of $84.39 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 3.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16.

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 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 company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. Cintas's revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 5.52 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis 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 was Friday, August 14th. Cintas's dividend payout ratio is presently 41.03%.

Analysts Set New Price Targets

CTAS has been the subject of several recent analyst reports. Citigroup raised their target price on shares of Cintas from $180.00 to $181.00 and gave the company a "sell" rating in a research note on Wednesday, September 30th. Bank of America raised shares of Cintas from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. UBS Group reaffirmed a "buy" rating and set a $235.00 price target (up from $230.00) on shares of Cintas in a research report on Thursday, September 24th. Finally, Weiss Ratings upgraded Cintas from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cintas presently has a consensus rating of "Moderate Buy" and a consensus target price of $218.50.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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