Danske Bank A S Makes New Investment in Cintas Corporation $CTAS

Danske Bank A S purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,532 shares of the business services provider’s stock, valued at approximately $33,256,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMG National Trust Bank acquired a new position in shares of Cintas during the second quarter worth approximately $1,973,000. Summit Global Investments acquired a new stake in shares of Cintas in the second quarter worth $950,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas in the second quarter worth $4,972,000. Riverbridge Partners LLC increased its position in Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after acquiring an additional 16,437 shares during the period. Finally, TimesSquare Capital Management LLC bought a new position in Cintas during the second quarter worth $62,057,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS opened at $203.08 on Thursday. The stock’s 50 day simple moving average is $190.18 and its 200-day simple moving average is $184.86. 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 stock has a market cap of $81.27 billion, a PE ratio of 54.30, a P/E/G ratio of 3.22 and a beta of 0.92. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.87.

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

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CTAS shares. Robert W. Baird upped their target price on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Truist Financial decreased their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. UBS Group restated a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cintas has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

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.