Cintas Corporation $CTAS Stake Raised by Snider Financial Group

Snider Financial Group increased its holdings in Cintas Corporation (NASDAQ:CTAS) by 60.2% in the third quarter, Holdings Channel.com reports. The firm owned 22,366 shares of the business services provider’s stock after purchasing an additional 8,405 shares during the period. Cintas accounts for 1.1% of Snider Financial Group’s investment portfolio, making the stock its 28th largest holding. Snider Financial Group’s holdings in Cintas were worth $4,363,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in Cintas during the second quarter worth about $4,520,425,000. Bank of New York Mellon Corp purchased a new position in shares of Cintas in the 2nd quarter worth $644,334,000. Amundi grew its position in Cintas by 6.3% during the first quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock valued at $406,336,000 after acquiring an additional 142,576 shares during the period. Legal & General Group Plc purchased a new stake in Cintas during the second quarter valued at about $386,159,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Cintas by 8.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,167,957 shares of the business services provider’s stock worth $366,673,000 after purchasing an additional 165,752 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 0.3%

CTAS stock traded up $0.63 during mid-day trading on Friday, hitting $213.69. 1,822,045 shares of the company were exchanged, compared to its average volume of 2,015,325. The firm has a fifty day simple moving average of $200.99 and a 200 day simple moving average of $187.24. The company has a market capitalization of $84.85 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 3.39 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, research analysts forecast that Cintas Corporation will post 5.52 earnings per share for the current fiscal year.

Cintas Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Rothschild & Co Redburn boosted their price objective on shares of Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. The Goldman Sachs Group upped their price target on Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Truist Financial raised their target price on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Jefferies Financial Group boosted their price target on Cintas from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, Robert W. Baird set a $222.00 price target on Cintas and gave the company an “outperform” rating in a report on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and an average price target of $218.50.

Cintas Company 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.