Resona Asset Management Co. Ltd. Cuts Position in Cintas Corporation $CTAS

Resona Asset Management Co. Ltd. decreased its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 3.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,662 shares of the business services provider’s stock after selling 4,345 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Cintas were worth $27,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Barnes Dennig Private Wealth Management LLC raised its stake in Cintas by 800.0% during the second quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after buying an additional 128 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Cintas by 3,925.0% in the second quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after acquiring an additional 157 shares during the last quarter. Alpine Bank Wealth Management increased its holdings in shares of Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. Addison Advisors LLC raised its position in shares of Cintas by 57.0% in the 2nd quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock worth $37,000 after purchasing an additional 61 shares during the last quarter. Finally, WPG Advisers LLC raised its position in shares of Cintas by 90.0% in the 3rd quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group restated a “buy” rating on shares of Cintas in a research note on Friday, December 19th. Rothschild & Co Redburn upgraded shares of Cintas from a “sell” rating to a “neutral” rating and set a $184.00 price target on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research report on Friday, December 19th. Sanford C. Bernstein initiated coverage on shares of Cintas in a report on Wednesday, November 12th. They issued a “market perform” rating and a $200.00 price objective for the company. Finally, Morgan Stanley cut their target price on Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $214.86.

Cintas Stock Performance

Shares of CTAS stock opened at $192.96 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.71 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average price of $188.19 and a 200-day moving average price of $199.06. Cintas Corporation has a 52 week low of $180.39 and a 52 week high of $229.24. The firm has a market capitalization of $77.16 billion, a PE ratio of 56.26, a P/E/G ratio of 3.31 and a beta of 0.97.

Cintas (NASDAQ:CTAS) last issued its earnings results on Thursday, December 18th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The company had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. As a group, equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Cintas’s payout ratio is presently 52.48%.

Cintas declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 28th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Cintas Company 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.