Dockside LLC Buys New Holdings in Cintas Corporation $CTAS

Dockside LLC purchased a new position in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,526 shares of the business services provider’s stock, valued at approximately $600,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Riverbridge Partners LLC increased its position in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after acquiring an additional 16,437 shares in the last quarter. SEB Asset Management AB bought a new position in Cintas in the 1st quarter valued at about $22,366,000. Northwestern Mutual Wealth Management Co. boosted its stake in Cintas by 2,286.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock valued at $138,536,000 after purchasing an additional 705,751 shares during the last quarter. Suncoast Equity Management boosted its stake in Cintas by 53.7% during the 4th quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider’s stock valued at $4,485,000 after purchasing an additional 8,330 shares during the last quarter. Finally, King Luther Capital Management Corp increased its holdings in Cintas by 0.7% during the 4th quarter. King Luther Capital Management Corp now owns 1,812,112 shares of the business services provider’s stock worth $340,804,000 after purchasing an additional 12,204 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $199.52 on Friday. The stock has a 50 day moving average of $188.85 and a 200 day moving average of $184.71. The company has a market capitalization of $79.84 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.24 and a beta of 0.92. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $221.36. 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 (NASDAQ:CTAS) last posted its quarterly earnings data 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. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business 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 is an increase 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 dividend yield of 1.0%. Cintas’s payout ratio is presently 48.13%.

Analyst Ratings Changes

CTAS has been the topic of a number of recent research reports. UBS Group restated a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and set a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Company Profile

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.