Saudi Central Bank Acquires 10,521 Shares of Cintas Corporation $CTAS

Saudi Central Bank raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 79.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,805 shares of the business services provider’s stock after buying an additional 10,521 shares during the period. Saudi Central Bank’s holdings in Cintas were worth $4,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. Nemes Rush Group LLC purchased a new position in shares of Cintas in the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in Cintas during the 4th quarter valued at about $25,000. Kemnay Advisory Services Inc. purchased a new stake in Cintas during the 4th quarter valued at about $26,000. Triumph Capital Management purchased a new stake in Cintas during the 3rd quarter valued at about $29,000. Finally, Whipplewood Advisors LLC grew its position in Cintas by 1,712.5% during the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after acquiring an additional 137 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of analyst reports. Argus raised Cintas to a “strong-buy” rating in a research note on Friday, July 17th. UBS Group reissued a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas 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 report on Friday, July 10th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target (up from $245.00) 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 assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $200.47 on Monday. The firm has a fifty day simple moving average of $197.47 and a two-hundred day simple moving average of $185.59. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $80.22 billion, a PE ratio of 53.60, a price-to-earnings-growth ratio of 3.24 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last announced its earnings results 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. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities analysts expect that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is presently 55.61%.

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.