Cornerstone Advisors LLC Sells 700 Shares of Cintas Corporation $CTAS

Cornerstone Advisors LLC cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,300 shares of the business services provider’s stock after selling 700 shares during the period. Cornerstone Advisors LLC’s holdings in Cintas were worth $2,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. WPG Advisers LLC bought a new position in Cintas in the 1st quarter worth $27,000. Saudi Central Bank purchased a new stake in Cintas in the first quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC increased its position in Cintas by 800.0% in the second 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 raised 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 buying an additional 157 shares during the period. Finally, Addison Advisors LLC grew its stake in shares of Cintas by 57.0% during the 2nd quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.6%

Shares of CTAS stock opened at $186.72 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $75.04 billion, a price-to-earnings ratio of 42.34, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99. Cintas Corporation has a 12-month low of $180.39 and a 12-month high of $229.24. The stock’s 50-day moving average price is $194.01 and its 200-day moving average price is $210.28.

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

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

Cintas Dividend Announcement

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

Analyst Ratings Changes

CTAS has been the topic of a number of recent analyst reports. Redburn Partners set a $184.00 price target on shares of Cintas in a report on Tuesday, November 11th. Wells Fargo & Company decreased their price objective on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. Citigroup lifted their target price 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. Royal Bank Of Canada cut their price target on Cintas from $240.00 to $206.00 and set a “sector perform” rating for the company in a research note on Thursday, September 25th. Finally, Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $215.07.

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.