Korea Investment CORP Buys Shares of 127,678 Cintas Corporation $CTAS

Korea Investment CORP bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 127,678 shares of the business services provider’s stock, valued at approximately $21,715,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nemes Rush Group LLC purchased a new position in shares of Cintas during the 4th quarter worth approximately $25,000. First United Bank & Trust acquired a new position in shares of Cintas during the 1st quarter worth approximately $25,000. Whipplewood Advisors LLC lifted its stake in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after buying an additional 137 shares in the last quarter. Swiss RE Ltd. purchased a new position in Cintas during the fourth quarter worth $25,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas during the fourth quarter worth $26,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of a number of recent research reports. Truist Financial dropped their price objective on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $231.00 price target on shares of Cintas in a research note on Wednesday, July 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. UBS Group reissued a “buy” rating and issued a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cintas has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $203.79 on Monday. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The business has a fifty day simple moving average of $191.16 and a 200-day simple moving average of $185.04. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The company has a market cap of $81.55 billion, a P/E ratio of 54.49, a P/E/G ratio of 3.29 and a beta of 0.91.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is 55.61%.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.