Sumitomo Life Insurance Co. Acquires Shares of 9,611 Cintas Corporation $CTAS

Sumitomo Life Insurance Co. acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,611 shares of the business services provider’s stock, valued at approximately $1,635,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in shares of Cintas in the fourth quarter valued at about $25,000. First United Bank & Trust bought a new position in Cintas during the first quarter worth about $25,000. Whipplewood Advisors LLC raised its stake in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Swiss RE Ltd. acquired a new stake in Cintas in the 4th quarter worth about $25,000. Finally, Camelot Portfolios LLC bought a new stake in Cintas in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $203.79 on Friday. The firm’s 50 day simple moving average is $191.16 and its 200 day simple moving average is $185.08. The firm has a market capitalization of $81.55 billion, a price-to-earnings ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts expect that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTAS. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird lifted their price target on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Finally, Truist Financial lowered their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock 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.