Cintas Corporation $CTAS Shares Sold by Kane Investment Management Inc.

Kane Investment Management Inc. reduced its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 2.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,689 shares of the business services provider’s stock after selling 668 shares during the quarter. Cintas comprises 2.8% of Kane Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. Kane Investment Management Inc.’s holdings in Cintas were worth $5,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after acquiring an additional 108 shares during the period. Larson Financial Group LLC boosted its position in Cintas by 23.3% during the first quarter. Larson Financial Group LLC now owns 2,989 shares of the business services provider’s stock worth $614,000 after purchasing an additional 564 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Cintas by 12.5% in the first quarter. Cullen Frost Bankers Inc. now owns 6,907 shares of the business services provider’s stock valued at $1,420,000 after purchasing an additional 769 shares during the last quarter. Allen Capital Group LLC acquired a new stake in Cintas in the first quarter valued at $217,000. Finally, Ascent Wealth Partners LLC purchased a new position in shares of Cintas in the first quarter valued at $5,613,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Up 1.4%

CTAS stock opened at $187.91 on Friday. The company has a 50 day moving average price of $194.37 and a two-hundred day moving average price of $210.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.94 and a current ratio of 2.24. The stock has a market capitalization of $75.51 billion, a P/E ratio of 42.61, a PEG ratio of 3.18 and a beta of 0.99. Cintas Corporation has a one year low of $180.39 and a one year high of $229.24.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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

Cintas announced that its Board of Directors has approved a stock 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CTAS has been the topic of several recent research reports. UBS Group boosted their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Morgan Stanley upped their price target on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Wells Fargo & Company dropped their price objective on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Cintas in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada reduced their target price on Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research note on Thursday, September 25th. One investment 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 MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus target price of $215.07.

About Cintas

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.