Cornerstone Advisors LLC Buys 15,386 Shares of Cintas Corporation $CTAS

Cornerstone Advisors LLC grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 30.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,361 shares of the business services provider’s stock after buying an additional 15,386 shares during the period. Cornerstone Advisors LLC’s holdings in Cintas were worth $12,749,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AMG National Trust Bank bought a new position in shares of Cintas in the 2nd quarter worth about $1,973,000. Summit Global Investments bought a new position in Cintas in the second quarter worth about $950,000. TimesSquare Capital Management LLC acquired a new stake in shares of Cintas during the 2nd quarter worth approximately $62,057,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas during the 2nd quarter worth approximately $4,972,000. Finally, BlackRock Inc. bought a new stake in shares of Cintas in the 2nd quarter worth approximately $4,520,425,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report 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 company a “buy” rating in a report on Thursday, September 24th. Robert W. Baird set a $222.00 price target on shares of Cintas and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Weiss Ratings cut shares of Cintas from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Finally, Rothschild & Co Redburn lifted their price objective on shares of Cintas from $184.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.87.

Cintas Stock Down 0.6%

Shares of Cintas stock opened at $226.24 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $233.46. The business’s fifty day moving average price is $208.94 and its two-hundred day moving average price is $192.09. The company has a market capitalization of $89.84 billion, a P/E ratio of 44.35, a PEG ratio of 3.61 and a beta of 0.86.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. The company had revenue of $3.01 billion during 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 for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, research analysts forecast that Cintas Corporation will post 5.53 EPS for the current year.

Cintas Dividend Announcement

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

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms. The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment. Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.