Cintas Corporation $CTAS Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. boosted its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 168.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,735 shares of the business services provider’s stock after purchasing an additional 2,344 shares during the period. Focus Financial Network Inc.’s holdings in Cintas were worth $729,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Cintas in the 2nd quarter valued at about $4,520,425,000. Bank of New York Mellon Corp acquired a new stake in Cintas during the second quarter worth about $644,334,000. Amundi grew its holdings in Cintas by 6.3% during the first quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after acquiring an additional 142,576 shares during the period. Legal & General Group Plc acquired a new stake in Cintas during the second quarter worth about $386,159,000. Finally, Pictet Asset Management Holding SA grew its holdings in Cintas by 8.3% during the first quarter. Pictet Asset Management Holding SA now owns 2,167,957 shares of the business services provider’s stock worth $366,673,000 after acquiring an additional 165,752 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $213.69 on Friday. The company has a market capitalization of $84.85 billion, a P/E ratio of 42.15, a P/E/G ratio of 3.39 and a beta of 0.92. The business’s 50 day moving average is $200.99 and its two-hundred day moving average is $187.24. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The business 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Analysts expect that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s payout ratio is currently 41.03%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTAS. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price target (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Rothschild & Co Redburn upped their price objective on Cintas from $184.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Argus upped their price objective on Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, September 29th. UBS Group reaffirmed a “buy” rating and set a $235.00 price objective (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Finally, Bank of America raised 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 report on Thursday, July 16th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cintas has a consensus rating of “Moderate Buy” and an average price target of $218.50.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) provides workplace services to businesses and organizations across North America. The company’s primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.