29,235 Shares in Cintas Corporation $CTAS Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,235 shares of the business services provider’s stock, valued at approximately $4,972,000.

Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after purchasing an additional 210,477 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cintas by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after buying an additional 97,220 shares during the last quarter. Norges Bank purchased a new stake in shares of Cintas during the fourth quarter valued at $923,672,000. Morgan Stanley increased its holdings in Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after buying an additional 36,666 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cintas by 4.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider’s stock worth $504,702,000 after buying an additional 112,622 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the subject of a number of recent analyst reports. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Wells Fargo & Company reissued an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Finally, Truist Financial lowered their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. One investment 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 has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Performance

Shares of CTAS opened at $199.52 on Friday. The business has a 50-day simple moving average of $188.85 and a two-hundred day simple moving average of $184.71. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $221.36. The stock has a market cap of $79.84 billion, a price-to-earnings ratio of 53.35, a PEG ratio of 3.22 and a beta of 0.92.

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, beating analysts’ consensus estimates of $1.24 by $0.05. The firm 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is presently 48.13%.

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.