4,183 Shares in Cintas Corporation $CTAS Bought by SCS Capital Management LLC

SCS Capital Management LLC purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,183 shares of the business services provider’s stock, valued at approximately $711,000.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its stake in Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after acquiring an additional 210,477 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after purchasing an additional 97,220 shares during the last quarter. Norges Bank acquired a new stake in shares of Cintas in the 4th quarter valued at $923,672,000. Morgan Stanley lifted its position in shares of Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cintas during the 2nd quarter worth $644,334,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTAS. The Goldman Sachs Group reissued a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. UBS Group reaffirmed a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird increased their price objective on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. One equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $212.31.

Cintas Stock Performance

NASDAQ CTAS opened at $199.52 on Monday. The firm’s fifty day moving average price is $188.85 and its 200 day moving average price is $184.65. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $221.36. 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 company has a market capitalization of $79.84 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share 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 firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the company earned $1.09 earnings per share. 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 expect 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 represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

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.