Wealthfront Advisers LLC Purchases New Position in Cintas Corporation $CTAS

Wealthfront Advisers LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 61,567 shares of the business services provider’s stock, valued at approximately $10,471,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTAS. Brighton Jones LLC raised its holdings in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC increased its position in Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Cintas in the 2nd quarter valued at about $625,000. Treasurer of the State of North Carolina raised its holdings in shares of Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC lifted its position in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares during the period. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. 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. Truist Financial decreased their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Performance

Shares of CTAS opened at $203.08 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market cap of $81.27 billion, a PE ratio of 54.30, a P/E/G ratio of 3.22 and a beta of 0.92. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.87. The stock has a fifty day moving average price of $190.18 and a 200-day moving average price of $184.86.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share 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 period in the previous year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

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