The Manufacturers Life Insurance Company Trims Holdings in Cintas Corporation $CTAS

The Manufacturers Life Insurance Company reduced its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,463 shares of the business services provider's stock after selling 20,081 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Cintas worth $37,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Caledonia Investments PLC purchased a new stake in Cintas in the fourth quarter worth about $33,287,000. Riverbridge Partners LLC lifted its position in shares of Cintas by 7.7% during the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider's stock valued at $38,760,000 after buying an additional 16,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cintas by 2,286.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider's stock valued at $138,536,000 after acquiring an additional 705,751 shares during the period. SEB Asset Management AB purchased a new stake in Cintas in the 1st quarter worth approximately $22,366,000. Finally, Suncoast Equity Management increased its holdings in Cintas by 53.7% in the 4th quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider's stock worth $4,485,000 after acquiring an additional 8,330 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 4.5%

NASDAQ CTAS opened at $206.79 on Friday. The stock's 50 day moving average is $182.47 and its 200 day moving average is $183.98. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The stock has a market cap of $82.73 billion, a PE ratio of 55.29, a P/E/G ratio of 3.50 and a beta of 0.94.

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 analysts' consensus estimates of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm posted $1.09 EPS. The company's revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Research analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal 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 given a dividend of $0.52 per share. This is a positive change from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. Cintas's dividend payout ratio (DPR) is currently 48.13%.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Weiss Ratings raised shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Truist Financial decreased their price objective on shares of Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a research report on Monday, June 15th. The Goldman Sachs Group restated a "buy" rating and set a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. Finally, Bank of America raised shares of Cintas from a "neutral" rating to a "buy" rating and upped their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $212.31.

About Cintas

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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