Commerce Bank purchased a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,477 shares of the business services provider's stock, valued at approximately $6,884,000.
Other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in Cintas in the 2nd quarter worth approximately $6,201,000. Quantbot Technologies LP acquired a new position in Cintas during the second quarter valued at approximately $5,299,000. Evolve Private Wealth LLC acquired a new position in Cintas during the second quarter valued at approximately $676,000. Varma Mutual Pension Insurance Co bought a new position in shares of Cintas in the second quarter valued at approximately $11,065,000. Finally, George Kaiser Family Foundation bought a new position in shares of Cintas in the second quarter valued at approximately $394,000. Institutional investors own 63.46% of the company's stock.
Cintas Stock Performance
CTAS opened at $203.79 on Monday. 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 50 day moving average price is $191.16 and its two-hundred day moving average price is $185.04. The firm has a market capitalization of $81.55 billion, a P/E ratio of 54.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.91. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company's quarterly revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current year.
Cintas Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio is currently 55.61%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on CTAS. Truist Financial decreased their price objective on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a report on Monday, June 15th. Argus upgraded shares of Cintas to a "strong-buy" rating in a report on Friday, July 17th. Wells Fargo & Company reiterated an "overweight" rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird boosted their target price on shares of Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.31.
Read Our Latest Research Report on Cintas
Cintas Company 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.
Further Reading
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