Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Holdings in Cintas Corporation $CTAS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 924,152 shares of the business services provider’s stock, valued at approximately $157,180,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.23% of Cintas at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after buying an additional 210,477 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock worth $1,746,453,000 after acquiring an additional 97,220 shares during the last quarter. Norges Bank acquired a new position in shares of Cintas in the fourth quarter worth $923,672,000. Morgan Stanley lifted its position in shares of Cintas by 0.8% in the fourth quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after acquiring an additional 36,666 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the second quarter valued at $644,334,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Royal Bank Of Canada restated a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a report 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. Robert W. Baird boosted their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Finally, Truist Financial reduced their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

Cintas stock opened at $197.82 on Tuesday. The firm has a market capitalization of $79.16 billion, a P/E ratio of 52.89, a PEG ratio of 3.22 and a beta of 0.91. The stock has a fifty day moving average price of $189.33 and a 200 day moving average price of $184.70. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.87. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s payout ratio is currently 55.61%.

Cintas 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.