Resona Asset Management Co. Ltd. Acquires 4,424 Shares of Cintas Corporation $CTAS

Resona Asset Management Co. Ltd. raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 3.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,007 shares of the business services provider’s stock after purchasing an additional 4,424 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cintas were worth $30,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Crestwood Advisors Group LLC bought a new stake in Cintas during the first quarter worth approximately $270,000. BNP Paribas Financial Markets lifted its stake in shares of Cintas by 25.5% in the 1st quarter. BNP Paribas Financial Markets now owns 791,197 shares of the business services provider’s stock valued at $162,615,000 after purchasing an additional 160,820 shares during the last quarter. Merit Financial Group LLC boosted its holdings in shares of Cintas by 11.2% in the 2nd quarter. Merit Financial Group LLC now owns 14,472 shares of the business services provider’s stock worth $3,225,000 after purchasing an additional 1,459 shares during the period. Comerica Bank increased its position in shares of Cintas by 9.8% during the 1st quarter. Comerica Bank now owns 91,991 shares of the business services provider’s stock valued at $18,907,000 after purchasing an additional 8,215 shares during the last quarter. Finally, Canopy Partners LLC purchased a new stake in Cintas during the 1st quarter valued at $329,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Performance

Cintas stock opened at $184.89 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. The company has a market capitalization of $74.30 billion, a PE ratio of 41.93, a P/E/G ratio of 3.18 and a beta of 0.99. The company has a 50 day moving average price of $196.54 and a 200-day moving average price of $211.15. Cintas Corporation has a fifty-two week low of $180.39 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.Cintas’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, equities analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, November 14th. Cintas’s payout ratio is presently 40.82%.

Cintas declared that its board has approved a share repurchase plan on Tuesday, October 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CTAS has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cintas in a research report on Wednesday, October 8th. UBS Group raised their target price on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Robert W. Baird upped their price target on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Morgan Stanley increased their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. Finally, Citigroup boosted their target price on Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $222.09.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.