The Manufacturers Life Insurance Company Sells 20,081 Shares of Cintas Corporation $CTAS

The Manufacturers Life Insurance Company reduced its position in Cintas Corporation (NASDAQ:CTAS) by 8.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,463 shares of the business services provider’s stock after selling 20,081 shares during the period. The Manufacturers Life Insurance Company’s holdings in Cintas were worth $37,797,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Cintas during the 4th quarter worth approximately $923,672,000. Two Sigma Investments LP grew its holdings in shares of Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after purchasing an additional 998,963 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after purchasing an additional 823,885 shares in the last quarter. Freestone Grove Partners LP increased its position in Cintas by 5,341.8% in the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after purchasing an additional 733,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Cintas by 2,286.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock worth $138,536,000 after purchasing an additional 705,751 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 4.5%

Shares of CTAS opened at $206.79 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $182.47 and a 200 day moving average of $183.98. The company has a market cap of $82.73 billion, a PE ratio of 55.29, a P/E/G ratio of 3.50 and a beta of 0.94. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, sell-side analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on CTAS. The Goldman Sachs Group reiterated a “buy” rating and set a $231.00 price objective on shares of Cintas in a research report on Wednesday, July 15th. Truist Financial reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and upped their target price 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. Finally, Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and an average price target 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.