2,960 Shares in Cintas Corporation $CTAS Acquired by Castleark Management LLC

Castleark Management LLC bought a new position in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,960 shares of the business services provider’s stock, valued at approximately $503,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in shares of Cintas in the 2nd quarter valued at $386,159,000. The Manufacturers Life Insurance Company bought a new position in Cintas during the second quarter worth $36,581,000. Fiduciary Financial Advisors bought a new position in Cintas during the second quarter worth $101,000. L2 Asset Management LLC acquired a new stake in Cintas in the second quarter worth $370,000. Finally, Vega Investment Solutions acquired a new stake in Cintas in the second quarter worth $572,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CTAS shares. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “buy” rating and issued a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Stock Up 0.5%

Cintas stock opened at $205.78 on Thursday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The firm has a market capitalization of $82.35 billion, a price-to-earnings ratio of 55.02, a price-to-earnings-growth ratio of 3.31 and a beta of 0.92. The firm’s fifty day moving average price is $193.10 and its two-hundred day moving average price is $185.32. 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 (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. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, equities research analysts predict 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. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This is an increase from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. 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.