Cintas Corporation $CTAS Stake Increased by Andra AP fonden

Andra AP fonden grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 78.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,400 shares of the business services provider’s stock after acquiring an additional 61,800 shares during the period. Andra AP fonden’s holdings in Cintas were worth $23,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Cintas during the second quarter worth about $4,520,425,000. Geode Capital Management LLC grew its position in shares of Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after acquiring an additional 97,220 shares in the last quarter. Norges Bank bought a new stake in shares of Cintas in the 4th quarter valued at approximately $923,672,000. Bank of New York Mellon Corp bought a new stake in shares of Cintas in the 2nd quarter valued at approximately $644,334,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Cintas by 2.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,438,568 shares of the business services provider’s stock valued at $458,622,000 after acquiring an additional 50,838 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTAS. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Finally, Robert W. Baird upped their target price on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $213.85.

Cintas Stock Performance

Shares of CTAS stock traded down $0.48 during trading hours on Tuesday, reaching $196.40. The stock had a trading volume of 617,100 shares, compared to its average volume of 2,130,963. The firm has a market capitalization of $78.70 billion, a PE ratio of 52.58, a price-to-earnings-growth ratio of 3.19 and a beta of 0.91. The firm has a 50-day simple moving average of $202.17 and a 200-day simple moving average of $185.64. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

About Cintas

Cintas Corporation is a provider of workplace products and services for businesses across North America. The company helps organizations manage employee appearance, workplace cleanliness, safety, and compliance through a range of recurring service programs.

Its offerings include uniform rental and workwear, branded apparel, entrance mats, restroom supplies, and facility cleaning services. Cintas also provides first-aid and safety products, training, and fire protection services, including inspection and maintenance programs for fire extinguishers, sprinkler systems, alarms, and related equipment.

Headquartered in Mason, Ohio, Cintas traces its roots to a family-operated industrial laundry business established by Richard T.