Assenagon Asset Management S.A. Has $207.09 Million Position in Cintas Corporation $CTAS

Assenagon Asset Management S.A. raised its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 18.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,217,603 shares of the business services provider’s stock after acquiring an additional 191,018 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cintas were worth $207,090,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nemes Rush Group LLC acquired a new stake in shares of Cintas during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new position in Cintas in the fourth quarter valued at about $25,000. Kemnay Advisory Services Inc. acquired a new position in Cintas in the fourth quarter valued at about $26,000. Camelot Portfolios LLC bought a new stake in Cintas during the fourth quarter worth about $26,000. Finally, Triumph Capital Management bought a new stake in Cintas during the third quarter worth about $29,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Up 0.4%

Shares of NASDAQ CTAS opened at $202.15 on Friday. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $226.75. The firm’s 50-day simple moving average is $185.59 and its 200 day simple moving average is $184.30. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market cap of $80.89 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 3.25 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the company posted $1.09 EPS. The company’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. On average, research analysts expect that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is currently 48.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTAS. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird increased their price target on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and set a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. Finally, UBS Group reaffirmed a “buy” rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and a consensus target price 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.