Bank of New York Mellon Corp Sells 29,009 Shares of Cintas Corporation $CTAS

Bank of New York Mellon Corp trimmed its position in Cintas Corporation (NASDAQ:CTAS) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,210,268 shares of the business services provider’s stock after selling 29,009 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.55% of Cintas worth $453,680,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Cintas by 2.7% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 99,876 shares of the business services provider’s stock valued at $20,501,000 after purchasing an additional 2,628 shares during the period. Merit Financial Group LLC boosted its position in Cintas by 11.2% during the 2nd quarter. Merit Financial Group LLC now owns 14,472 shares of the business services provider’s stock valued at $3,225,000 after buying an additional 1,459 shares during the period. HBK Sorce Advisory LLC boosted its position in Cintas by 197.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 9,344 shares of the business services provider’s stock valued at $1,858,000 after buying an additional 6,202 shares during the period. Vanguard Group Inc. grew its holdings in Cintas by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 38,384,133 shares of the business services provider’s stock worth $8,554,672,000 after acquiring an additional 524,829 shares during the last quarter. Finally, Scalar Gauge Management LLC increased its position in shares of Cintas by 210.0% in the third quarter. Scalar Gauge Management LLC now owns 31,000 shares of the business services provider’s stock valued at $6,363,000 after acquiring an additional 21,000 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Sanford C. Bernstein began coverage on shares of Cintas in a research report on Wednesday, November 12th. They set a “market perform” rating and a $200.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cintas in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Friday, December 19th. Finally, Robert W. Baird increased their price target on shares of Cintas from $220.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $214.86.

Cintas Stock Down 1.1%

NASDAQ:CTAS opened at $189.16 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49. The firm’s 50-day moving average price is $188.65 and its 200-day moving average price is $198.54. The company has a market capitalization of $75.64 billion, a PE ratio of 55.15, a P/E/G ratio of 3.27 and a beta of 0.97. Cintas Corporation has a 1-year low of $180.39 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 18th. The business services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.77 billion. Cintas had a net margin of 17.58% and a return on equity of 41.07%. Cintas’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. On average, equities analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas announced that its board has approved a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 13th will be paid a $0.45 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 52.48%.

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.