Nissay Asset Management Corp Japan Acquires 3,891 Shares of Cintas Corporation $CTAS

Nissay Asset Management Corp Japan raised its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 3.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 111,471 shares of the business services provider’s stock after purchasing an additional 3,891 shares during the period. Nissay Asset Management Corp Japan’s holdings in Cintas were worth $18,959,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in shares of Cintas in the fourth quarter valued at approximately $25,000. First United Bank & Trust purchased a new position in shares of Cintas during the first quarter valued at approximately $25,000. Whipplewood Advisors LLC grew its holdings in Cintas by 1,712.5% during the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Swiss RE Ltd. bought a new stake in Cintas during the fourth quarter worth $25,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cintas in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. Finally, Truist Financial reduced their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Trading Up 0.0%

Shares of CTAS opened at $204.18 on Friday. The business has a 50-day moving average of $194.43 and a 200 day moving average of $185.51. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. The firm has a market cap of $81.71 billion, a P/E ratio of 54.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.87 billion. During the same period last year, the firm earned $1.09 EPS. Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts forecast that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. This is an increase 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 presently 55.61%.

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.