Meiji Yasuda Asset Management Co Ltd. Makes New Investment in Cintas Corporation $CTAS

Key Points

• Meiji Yasuda Asset Management bought 12,757 shares of Cintas in the second quarter, valued at approximately $2.17 million. Institutional investors collectively own 63.46% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $212.31. Bank of America and UBS recently raised or maintained bullish targets near $230.
• Cintas beat quarterly expectations with $1.29 in earnings per share and $2.91 billion in revenue, while revenue grew 8.9% year over year. The company also raised its quarterly dividend from $0.45 to $0.52 per share.

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,757 shares of the business services provider's stock, valued at approximately $2,170,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTAS. Nemes Rush Group LLC bought a new stake in Cintas in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new position in Cintas in the fourth quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in Cintas in the fourth quarter worth approximately $26,000. Camelot Portfolios LLC acquired a new stake in Cintas in the fourth quarter valued at approximately $26,000. Finally, Triumph Capital Management acquired a new stake in Cintas in the third quarter valued at approximately $29,000. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CTAS shares. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Truist Financial cut their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a research report on Thursday, July 16th. UBS Group restated a "buy" rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $212.31.

Cintas Stock Up 1.8%

Shares of NASDAQ:CTAS opened at $207.40 on Tuesday. The business's 50 day moving average is $191.81 and its 200 day moving average is $185.16. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The stock has a market cap of $83.00 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 3.29 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating 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 business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the firm posted $1.09 EPS. Cintas'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, sell-side analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a $0.52 dividend. This is an increase from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Cintas's dividend payout ratio is currently 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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