Bank of New York Mellon Corp Reduces Stock Holdings in Cintas Corporation $CTAS

Bank of New York Mellon Corp decreased its stake in Cintas Corporation (NASDAQ:CTAS) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,239,277 shares of the business services provider’s stock after selling 152,326 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cintas were worth $499,068,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crestwood Advisors Group LLC bought a new stake in shares of Cintas during the 1st quarter worth approximately $270,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Cintas by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider’s stock worth $2,049,000 after acquiring an additional 3,404 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Cintas by 25.5% during the 1st quarter. BNP Paribas Financial Markets now owns 791,197 shares of the business services provider’s stock worth $162,615,000 after acquiring an additional 160,820 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Cintas by 11.2% during the 2nd quarter. Merit Financial Group LLC now owns 14,472 shares of the business services provider’s stock worth $3,225,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Cintas by 9.8% during the 1st quarter. Comerica Bank now owns 91,991 shares of the business services provider’s stock worth $18,907,000 after acquiring an additional 8,215 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company decreased their price target on Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Robert W. Baird lifted their target price on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Royal Bank Of Canada decreased their target price on Cintas from $240.00 to $206.00 and set a “sector perform” rating for the company in a research report on Thursday, September 25th. UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Finally, Citigroup lifted their target price on Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $222.09.

Cintas Trading Down 0.7%

CTAS opened at $182.04 on Tuesday. The firm has a market cap of $73.16 billion, a price-to-earnings ratio of 41.28, a PEG ratio of 3.18 and a beta of 1.01. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. Cintas Corporation has a 12 month low of $180.39 and a 12 month high of $229.24. The stock has a fifty day moving average price of $198.13 and a 200-day moving average price of $211.67.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, equities research analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 14th. Cintas’s payout ratio is presently 40.82%.

Cintas declared that its board has approved a stock buyback program on Tuesday, October 28th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.