Korea Investment CORP purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 127,678 shares of the business services provider's stock, valued at approximately $21,715,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. AMG National Trust Bank purchased a new position in Cintas during the second quarter worth about $1,973,000. Summit Global Investments acquired a new stake in Cintas in the 2nd quarter valued at approximately $950,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cintas in the 2nd quarter valued at $4,972,000. TimesSquare Capital Management LLC purchased a new stake in Cintas during the second quarter worth about $62,057,000. Finally, Riverbridge Partners LLC lifted its holdings in Cintas by 7.7% during the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider's stock worth $38,760,000 after buying an additional 16,437 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.
Cintas Stock Performance
NASDAQ:CTAS opened at $203.79 on Monday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The stock's 50 day simple moving average is $191.16 and its 200-day simple moving average is $185.04. The firm has a market cap of $81.55 billion, a P/E ratio of 54.49, a PEG ratio of 3.29 and a beta of 0.91.
Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas's revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.
Cintas Increases Dividend
The company 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 dividend of $0.52 per share. This is a boost from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas's payout ratio is presently 55.61%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. UBS Group restated a "buy" rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $231.00 price objective on shares of Cintas in a research 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 issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.
Get Our Latest Stock Report on CTAS
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.
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