67,405 Cintas Corporation $CTAS Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in Cintas Corporation (NASDAQ:CTAS) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,607,327 shares of the business services provider’s stock after selling 67,405 shares during the quarter. Cintas accounts for about 1.3% of King Luther Capital Management Corp’s investment portfolio, making the stock its 15th largest holding. King Luther Capital Management Corp owned 0.40% of Cintas worth $313,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CTAS. BlackRock Inc. purchased a new stake in Cintas in the second quarter worth approximately $4,520,425,000. Bank of New York Mellon Corp bought a new stake in Cintas in the 2nd quarter worth approximately $644,334,000. Amundi grew its position in Cintas by 6.3% in the 1st quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after purchasing an additional 142,576 shares during the period. Legal & General Group Plc purchased a new stake in Cintas during the 2nd quarter valued at $386,159,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Cintas by 34.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,040,757 shares of the business services provider’s stock valued at $345,174,000 after buying an additional 526,299 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $227.26 on Thursday. The firm has a 50 day moving average of $207.85 and a 200 day moving average of $191.75. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $90.24 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 3.57 and a beta of 0.86. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $233.46.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, research analysts anticipate that Cintas Corporation will post 5.53 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas’s payout ratio is presently 41.03%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTAS. Robert W. Baird set a $222.00 price target on Cintas and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Bank of America reaffirmed a “buy” rating and issued a $232.00 price objective on shares of Cintas in a report on Thursday, October 29th. UBS Group reiterated a “buy” rating and set a $235.00 price objective (up from $230.00) on shares of Cintas in a research report on Thursday, September 24th. Truist Financial increased their target price on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Cintas in a report on Thursday, September 10th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cintas presently has an average rating of “Moderate Buy” and a consensus price target of $219.87.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.