Cintas Corporation $CTAS Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its position in Cintas Corporation (NASDAQ:CTAS) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 517,238 shares of the business services provider’s stock after selling 37,533 shares during the period. Fifth Third Bancorp’s holdings in Cintas were worth $100,892,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Maryland State Retirement & Pension System grew its stake in shares of Cintas by 11.8% in the third quarter. Maryland State Retirement & Pension System now owns 20,633 shares of the business services provider’s stock worth $4,025,000 after purchasing an additional 2,176 shares during the last quarter. Cabot Wealth Management Inc. raised its position in Cintas by 7.7% during the 3rd quarter. Cabot Wealth Management Inc. now owns 78,071 shares of the business services provider’s stock valued at $15,229,000 after purchasing an additional 5,613 shares during the last quarter. Ritholtz Wealth Management raised its position in Cintas by 9.2% during the 3rd quarter. Ritholtz Wealth Management now owns 30,991 shares of the business services provider’s stock valued at $6,045,000 after purchasing an additional 2,606 shares during the last quarter. UNIVEST FINANCIAL Corp lifted its holdings in Cintas by 2.0% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 3,865 shares of the business services provider’s stock worth $754,000 after buying an additional 77 shares during the period. Finally, Jefferies Financial Group Inc. lifted its holdings in Cintas by 74.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 53,050 shares of the business services provider’s stock worth $10,348,000 after buying an additional 22,553 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

CTAS opened at $227.26 on Thursday. The stock has a fifty day simple moving average of $207.85 and a two-hundred day simple moving average of $191.75. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The company has a market cap of $90.24 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 3.57 and a beta of 0.86. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $233.46.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Research analysts predict that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 13th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Cintas’s dividend payout ratio (DPR) is 41.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Rothschild & Co Redburn lifted their price objective on Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Argus lifted their price target on shares of Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Truist Financial lifted their price target on shares of Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Cintas in a research report on Thursday, September 10th. Ten research analysts have rated the stock with a Buy rating, six have given 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 an average target price of $219.87.

About Cintas

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.