Rakuten Investment Management Inc. Buys New Shares in Cintas Corporation $CTAS

Rakuten Investment Management Inc. purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 86,578 shares of the business services provider’s stock, valued at approximately $14,639,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nemes Rush Group LLC bought a new stake in Cintas in the fourth quarter valued at $25,000. First United Bank & Trust bought a new position in shares of Cintas during the 1st quarter worth about $25,000. Whipplewood Advisors LLC grew its stake in shares of Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after buying an additional 137 shares during the period. Swiss RE Ltd. bought a new stake in Cintas in the 4th quarter valued at about $25,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Cintas in the 4th quarter valued at about $26,000. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTAS shares. 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 note on Thursday, July 16th. Bank of America raised 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 research report on Thursday, July 16th. Truist Financial decreased their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Argus raised Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

NASDAQ CTAS opened at $204.18 on Friday. The company has a market capitalization of $81.71 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $219.16. The company has a 50-day simple moving average of $194.43 and a 200 day simple moving average of $185.51.

Cintas (NASDAQ:CTAS) last released its 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 for 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. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, research analysts predict 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 paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) 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.