King Luther Capital Management Corp Sells 31,936 Shares of Cintas Corporation $CTAS

King Luther Capital Management Corp cut its position in Cintas Corporation (NASDAQ:CTAS) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,818,541 shares of the business services provider’s stock after selling 31,936 shares during the quarter. Cintas comprises 1.8% of King Luther Capital Management Corp’s portfolio, making the stock its 11th biggest holding. King Luther Capital Management Corp’s holdings in Cintas were worth $405,298,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. WPG Advisers LLC bought a new stake in Cintas during the first quarter worth $27,000. Saudi Central Bank bought a new position in shares of Cintas in the 1st quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Cintas by 800.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock worth $32,000 after buying an additional 128 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Cintas by 3,925.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock worth $36,000 after buying an additional 157 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new stake in shares of Cintas during the 1st quarter worth $41,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTAS. Royal Bank Of Canada decreased their target price on Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. reduced their price target on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group upped their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Citigroup increased their price objective on shares of Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research note on Friday, September 26th. Finally, Morgan Stanley boosted their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $222.09.

Cintas Trading Up 0.1%

CTAS opened at $185.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. Cintas Corporation has a fifty-two week low of $180.39 and a fifty-two week high of $229.24. The company’s 50 day moving average price is $196.04 and its two-hundred day moving average price is $211.08. The firm has a market capitalization of $74.37 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 3.18 and a beta of 0.99.

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

Cintas Announces Dividend

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

Cintas announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About Cintas

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.