Meiji Yasuda Asset Management Co Ltd. Takes $2.17 Million Position in Cintas Corporation $CTAS

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, Holdings Channel reports. The firm purchased 12,757 shares of the business services provider’s stock, valued at approximately $2,170,000.

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

Cintas Stock Up 1.8%

Cintas stock opened at $207.40 on Tuesday. The firm has a 50 day simple moving average of $191.81 and a 200 day simple moving average of $185.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The firm has a market capitalization of $83.00 billion, a price-to-earnings ratio of 55.45, a P/E/G ratio of 3.29 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. The business’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, analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is currently 55.61%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTAS. Wells Fargo & Company restated an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Finally, Robert W. Baird raised their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

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.