2,878 Shares in Cintas Corporation $CTAS Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,878 shares of the business services provider’s stock, valued at approximately $489,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AMG National Trust Bank purchased a new stake in Cintas in the 2nd quarter valued at about $1,973,000. Summit Global Investments purchased a new position in shares of Cintas during the second quarter worth approximately $950,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Cintas during the second quarter valued at approximately $4,972,000. TimesSquare Capital Management LLC bought a new stake in shares of Cintas during the second quarter valued at approximately $62,057,000. Finally, Riverbridge Partners LLC raised its stake in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after acquiring an additional 16,437 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Cintas stock opened at $204.18 on Monday. The business has a fifty day moving average of $194.43 and a two-hundred day moving average of $185.45. 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 firm has a market cap of $81.71 billion, a P/E ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16.

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

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CTAS shares. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a research note on Thursday, July 16th. Finally, Argus upgraded Cintas to a “strong-buy” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas 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.