Commerce Bank Takes $6.88 Million Position in Cintas Corporation $CTAS

Commerce Bank bought a new stake in Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 40,477 shares of the business services provider’s stock, valued at approximately $6,884,000.

A number of other institutional investors have also added to or reduced their stakes in CTAS. Brighton Jones LLC raised its holdings in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after purchasing an additional 428 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Cintas during the second quarter valued at approximately $625,000. Treasurer of the State of North Carolina increased its position in shares of Cintas by 20.3% during the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after purchasing an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTAS shares. UBS Group reaffirmed a “buy” rating and issued a $230.00 target price (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Argus raised shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings upgraded shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. Finally, Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $203.79 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The business’s fifty day moving average price is $191.16 and its two-hundred day moving average price is $185.04. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The stock has a market capitalization of $81.55 billion, a price-to-earnings ratio of 54.49, a price-to-earnings-growth ratio of 3.29 and a beta of 0.91.

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

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

Cintas Profile

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.