Cintas Corporation $CTAS Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 126.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 133,033 shares of the business services provider’s stock after buying an additional 74,174 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cintas were worth $25,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Cintas in the second quarter worth $4,520,425,000. Bank of New York Mellon Corp acquired a new position in Cintas during the second quarter valued at $644,334,000. Legal & General Group Plc acquired a new position in Cintas during the second quarter valued at $386,159,000. Bank of America Corp DE purchased a new stake in Cintas in the second quarter valued at $233,111,000. Finally, Deutsche Bank AG acquired a new stake in Cintas during the 2nd quarter worth about $204,831,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Trading Up 1.9%

Shares of CTAS stock traded up $3.89 on Thursday, hitting $212.52. 619,181 shares of the stock traded hands, compared to its average volume of 2,113,233. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The stock has a market capitalization of $84.39 billion, a PE ratio of 41.92, a PEG ratio of 3.28 and a beta of 0.92. The firm’s 50-day moving average price is $200.56 and its two-hundred day moving average price is $186.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45.

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

Cintas Increases Dividend

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

Analysts Set New Price Targets

CTAS has been the topic of a number of analyst reports. Weiss Ratings raised shares of Cintas from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Robert W. Baird set a $222.00 target price on Cintas and gave the company an “outperform” rating in a research report on Thursday, September 24th. Wells Fargo & Company reissued 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. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, September 24th. Finally, Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.50.

Cintas 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.