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

Cornerstone Advisors LLC increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,361 shares of the business services provider’s stock after purchasing an additional 15,386 shares during the period. Cornerstone Advisors LLC’s holdings in Cintas were worth $12,749,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CTAS. BlackRock Inc. bought a new position in Cintas during the 2nd quarter valued at $4,520,425,000. Bank of New York Mellon Corp acquired a new position in shares of Cintas during the 2nd quarter valued at $644,334,000. Amundi raised its stake in shares of Cintas by 6.3% in the 1st quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after buying an additional 142,576 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Cintas in the 2nd quarter worth $386,159,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Cintas by 34.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,040,757 shares of the business services provider’s stock worth $345,174,000 after buying an additional 526,299 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Down 0.6%

CTAS stock opened at $226.24 on Friday. The company has a 50 day moving average of $208.94 and a two-hundred day moving average of $192.09. The company has a quick ratio of 1.29, a current ratio of 1.45 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 $233.46. The company has a market cap of $89.84 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 3.61 and a beta of 0.86.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, beating the consensus estimate 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 return on equity of 42.57% and a net margin of 17.82%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities analysts anticipate that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTAS. Citigroup upped their price objective on Cintas from $180.00 to $181.00 and gave the company a “sell” rating in a report on Wednesday, September 30th. Weiss Ratings cut shares of Cintas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. The Goldman Sachs Group upped 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. Argus upped their price target on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Cintas in a research report on Thursday, September 10th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.87.

Cintas 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.