Rakuten Investment Management Inc. Acquires 9,645 Shares of Cintas Corporation $CTAS

Rakuten Investment Management Inc. grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,223 shares of the business services provider’s stock after buying an additional 9,645 shares during the period. Rakuten Investment Management Inc.’s holdings in Cintas were worth $19,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CTAS. Whipplewood Advisors LLC grew its holdings in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after buying an additional 137 shares during the period. Meeder Asset Management Inc. purchased a new position in Cintas in the second quarter valued at about $27,000. Archer Investment Corp acquired a new position in shares of Cintas during the first quarter worth about $32,000. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Cintas in the third quarter valued at about $37,000. Finally, Highland Investment Advisors LLC purchased a new stake in shares of Cintas during the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CTAS shares. Bank of America reaffirmed a “buy” rating and issued a $232.00 price target on shares of Cintas in a report on Thursday, October 29th. Jefferies Financial Group raised their target price on shares of Cintas from $200.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a report on Thursday, September 10th. The Goldman Sachs Group upped their target price on Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. Finally, Weiss Ratings lowered Cintas from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.62.

Cintas Stock Performance

NASDAQ CTAS opened at $229.03 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 45.17, a PEG ratio of 3.55 and a beta of 0.86. The company has a 50 day moving average of $205.69 and a 200-day moving average of $190.98. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $230.74.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities analysts forecast that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.