Daiichi Life Insurance Co. Ltd. Acquires New Stake in Cintas Corporation $CTAS

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,492 shares of the business services provider's stock, valued at approximately $4,506,000.

A number of other hedge funds have also recently made changes to their positions in CTAS. BlackRock Inc. bought a new position in Cintas during the 2nd quarter worth about $4,520,425,000. Norges Bank bought a new stake in shares of Cintas in the 4th quarter valued at about $923,672,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the 2nd quarter worth approximately $644,334,000. Deutsche Bank AG purchased a new stake in shares of Cintas in the 2nd quarter worth approximately $204,831,000. Finally, Two Sigma Investments LP boosted its stake in shares of Cintas by 5,641.3% during the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider's stock valued at $208,682,000 after purchasing an additional 998,963 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CTAS shares. Wells Fargo & Company reiterated 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. Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, June 15th. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and increased their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Argus raised Cintas to a "strong-buy" rating in a research note on Friday, July 17th. Finally, UBS Group reissued a "buy" rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $212.31.

Cintas Stock Performance

NASDAQ:CTAS opened at $203.79 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The firm has a market capitalization of $81.55 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 3.29 and a beta of 0.91. The company's 50-day moving average is $191.16 and its two-hundred day moving average is $185.04. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (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 firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the company earned $1.09 EPS. The company's quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. Cintas's dividend payout ratio (DPR) is presently 55.61%.

Cintas Profile

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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