Cintas Corporation $CTAS Shares Sold by Royal Bank of Canada

Royal Bank of Canada reduced its stake in Cintas Corporation (NASDAQ:CTAS) by 8.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,857,742 shares of the business services provider’s stock after selling 267,873 shares during the period. Royal Bank of Canada’s holdings in Cintas were worth $483,360,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Caledonia Investments PLC purchased a new position in Cintas in the 4th quarter valued at approximately $33,287,000. Riverbridge Partners LLC raised its position in Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after purchasing an additional 16,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cintas by 2,286.3% in 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 in the last quarter. SEB Asset Management AB purchased a new position in shares of Cintas in the 1st quarter valued at about $22,366,000. Finally, Suncoast Equity Management grew its position in shares of Cintas by 53.7% during the fourth quarter. Suncoast Equity Management now owns 23,845 shares of the business services provider’s stock worth $4,485,000 after buying an additional 8,330 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Up 1.9%

CTAS stock opened at $214.90 on Wednesday. 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 Corporation has a 12 month low of $161.16 and a 12 month high of $226.75. The company has a fifty day moving average price of $180.88 and a 200 day moving average price of $183.70. The company has a market cap of $85.98 billion, a price-to-earnings ratio of 57.46, a price-to-earnings-growth ratio of 3.41 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its quarterly 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. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts expect that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is 48.13%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. Bank of America upgraded shares of 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 report on Thursday, July 16th. Finally, UBS Group reaffirmed a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas 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.