Jupiter Asset Management Ltd. Sells 227,330 Shares of Cintas Corporation $CTAS

Jupiter Asset Management Ltd. lessened its stake in Cintas Corporation (NASDAQ:CTAS) by 78.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,803 shares of the business services provider’s stock after selling 227,330 shares during the period. Jupiter Asset Management Ltd.’s holdings in Cintas were worth $13,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in Cintas in the first quarter worth $1,877,760,000. Voya Investment Management LLC lifted its stake in Cintas by 516.8% during the first quarter. Voya Investment Management LLC now owns 854,032 shares of the business services provider’s stock worth $175,529,000 after purchasing an additional 715,570 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Cintas by 90.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,214,098 shares of the business services provider’s stock worth $270,586,000 after purchasing an additional 575,372 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Cintas by 169.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider’s stock valued at $187,235,000 after purchasing an additional 573,151 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Cintas by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock valued at $7,781,223,000 after buying an additional 491,307 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.3%

CTAS opened at $185.28 on Thursday. Cintas Corporation has a one year low of $180.39 and a one year high of $229.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94. The business has a 50 day simple moving average of $194.74 and a two-hundred day simple moving average of $210.59. The firm has a market capitalization of $74.46 billion, a price-to-earnings ratio of 42.01, a PEG ratio of 3.18 and a beta of 0.99.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. The firm had revenue of $2.72 billion for 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 28th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Cintas Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Redburn Partners set a $184.00 target price on Cintas in a research note on Tuesday. Robert W. Baird upped their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Rothschild & Co Redburn upgraded shares of Cintas from a “sell” rating to a “neutral” rating and set a $184.00 target price on the stock in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cintas in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $215.07.

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.