Cornerstone Advisors LLC Buys New Stake in Cintas Corporation $CTAS

Cornerstone Advisors LLC purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 49,975 shares of the business services provider’s stock, valued at approximately $8,500,000.

A number of other institutional investors also recently made changes to their positions in CTAS. UNIVEST FINANCIAL Corp acquired a new stake in shares of Cintas during the second quarter valued at $644,000. MidFirst Bank acquired a new position in Cintas in the 2nd quarter valued at about $59,000. BlackRock Inc. acquired a new position in Cintas in the 2nd quarter valued at about $4,520,425,000. Pallas Capital Advisors LLC purchased a new position in Cintas in the 2nd quarter valued at about $684,000. Finally, Deutsche Bank AG purchased a new position in Cintas in the 2nd quarter valued at about $204,831,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

CTAS opened at $197.82 on Tuesday. The company’s 50 day simple moving average is $189.33 and its 200 day simple moving average is $184.70. 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 Corporation has a 1 year low of $161.16 and a 1 year high of $219.87. The stock has a market capitalization of $79.16 billion, a PE ratio of 52.89, a P/E/G ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s revenue was up 8.9% compared to the same quarter last year. During the same period 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 expect that Cintas Corporation will post 5.49 EPS for the current 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 paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is presently 55.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on CTAS. 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. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of 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 shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $206.00 price target 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 given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $212.31.

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.