Cintas Corporation $CTAS Stock: Park Avenue Securities LLC Reduces Stake

Park Avenue Securities LLC lessened its position in shares of Cintas Corporation (NASDAQ:CTAS) by 13.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 21,250 shares of the business services provider’s stock after selling 3,273 shares during the quarter. Park Avenue Securities LLC’s holdings in Cintas were worth $4,145,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CTAS. BlackRock Inc. acquired a new stake in Cintas in the second quarter worth about $4,520,425,000. Bank of New York Mellon Corp bought a new stake in Cintas during the 2nd quarter worth about $644,334,000. Amundi raised its holdings in Cintas by 6.3% during the 1st quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after purchasing an additional 142,576 shares during the last quarter. Legal & General Group Plc acquired a new position in Cintas during the 2nd quarter valued at about $386,159,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Cintas by 34.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,040,757 shares of the business services provider’s stock valued at $345,174,000 after purchasing an additional 526,299 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTAS. UBS Group reaffirmed a “buy” rating and issued a $235.00 target price (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. The Goldman Sachs Group boosted their price target on shares of Cintas from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, September 24th. Citigroup increased their price objective on shares of Cintas from $180.00 to $181.00 and gave the company a “sell” rating in a report on Wednesday, September 30th. Bank of America reaffirmed a “buy” rating and issued a $232.00 price objective on shares of Cintas in a research note on Thursday. Finally, Jefferies Financial Group lifted 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. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.62.

Cintas Trading Up 2.5%

NASDAQ:CTAS opened at $218.07 on Friday. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.68. The business’s 50-day moving average price is $204.13 and its two-hundred day moving average price is $190.37. 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 capitalization of $86.59 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 3.37 and a beta of 0.92.

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

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 13th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 41.03%.

Cintas Profile

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.