Cibc World Market Inc. Buys New Holdings in Cintas Corporation $CTAS

Cibc World Market Inc. purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,238 shares of the business services provider’s stock, valued at approximately $8,715,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. One Capital Management LLC raised its position in shares of Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after buying an additional 53 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Cintas by 0.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after acquiring an additional 58 shares during the last quarter. Sachetta LLC boosted its position in shares of Cintas by 46.0% during the first quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock worth $34,000 after acquiring an additional 63 shares during the last quarter. Ausdal Financial Partners Inc. grew its stake in Cintas by 2.8% during the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after acquiring an additional 63 shares in the last quarter. Finally, Elyxium Wealth LLC grew its stake in Cintas by 4.9% during the fourth quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock valued at $257,000 after acquiring an additional 64 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTAS. UBS Group reiterated a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Robert W. Baird lifted their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cintas has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Trading Down 1.3%

Shares of CTAS opened at $204.76 on Wednesday. The company’s fifty day moving average is $192.37 and its 200 day moving average is $185.24. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The stock has a market capitalization of $81.94 billion, a PE ratio of 54.75, a P/E/G ratio of 3.35 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 (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the business earned $1.09 earnings per share. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts expect that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

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

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.