Cintas Corporation $CTAS Shares Acquired by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,253 shares of the business services provider’s stock after purchasing an additional 3,756 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Cintas were worth $9,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CTAS. First United Bank & Trust bought a new stake in Cintas during the first quarter valued at $25,000. Whipplewood Advisors LLC raised its holdings in shares of Cintas by 1,712.5% during the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after purchasing an additional 137 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Cintas during the second quarter worth $27,000. Archer Investment Corp bought a new position in shares of Cintas in the 1st quarter worth about $32,000. Finally, Highland Investment Advisors LLC bought a new position in shares of Cintas in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $206.38 on Wednesday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. The business’s fifty day moving average price is $200.42 and its two-hundred day moving average price is $186.44. The firm has a market capitalization of $81.95 billion, a PE ratio of 40.71, a P/E/G ratio of 3.26 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the business posted $1.20 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, research analysts expect that Cintas Corporation will post 5.52 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, August 14th were issued a $0.52 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is 41.03%.

Analyst Ratings Changes

Several research analysts have recently commented on CTAS shares. Weiss Ratings raised shares of Cintas from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research note on Thursday, September 24th. Rothschild & Co Redburn raised their target price on shares of Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group lifted their target price on Cintas from $231.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cintas presently has an average rating of “Moderate Buy” and a consensus target price of $218.50.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.