Cintas Corporation $CTAS Stock Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,991 shares of the business services provider’s stock after purchasing an additional 2,606 shares during the period. Ritholtz Wealth Management’s holdings in Cintas were worth $6,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. UNIVEST FINANCIAL Corp lifted its stake in Cintas by 2.0% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 3,865 shares of the business services provider’s stock valued at $754,000 after buying an additional 77 shares in the last quarter. Jefferies Financial Group Inc. boosted its holdings in Cintas by 74.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 53,050 shares of the business services provider’s stock worth $10,348,000 after buying an additional 22,553 shares during the last quarter. First Command Advisory Services Inc. increased its stake in Cintas by 229.5% during the 3rd quarter. First Command Advisory Services Inc. now owns 1,654 shares of the business services provider’s stock worth $323,000 after buying an additional 1,152 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Cintas by 9.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 48,259 shares of the business services provider’s stock worth $9,413,000 after buying an additional 3,976 shares in the last quarter. Finally, Moneco Advisors LLC increased its stake in Cintas by 12.3% during the 3rd quarter. Moneco Advisors LLC now owns 3,272 shares of the business services provider’s stock worth $638,000 after buying an additional 358 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Truist Financial increased their target price on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 24th. The Goldman Sachs Group lifted their price target on Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Robert W. Baird set a $222.00 price target on Cintas and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded Cintas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cintas has an average rating of “Moderate Buy” and a consensus target price of $219.87.

Cintas Trading Up 0.1%

Shares of Cintas stock opened at $227.52 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $208.43 and its 200-day simple moving average is $191.92. The stock has a market cap of $90.34 billion, a P/E ratio of 44.88, a P/E/G ratio of 3.60 and a beta of 0.86. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $233.46.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The business’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. Analysts predict that Cintas Corporation will post 5.53 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 13th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, November 13th. Cintas’s dividend payout ratio is presently 41.03%.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.