Wellington Management Group LLP Has $262.37 Million Stake in Cintas Corporation $CTAS

Wellington Management Group LLP grew its position in Cintas Corporation (NASDAQ:CTAS) by 13.3% during the second quarter, HoldingsChannel reports. The firm owned 1,542,613 shares of the business services provider’s stock after buying an additional 181,620 shares during the period. Wellington Management Group LLP’s holdings in Cintas were worth $262,368,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after buying an additional 108 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after acquiring an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas during the 2nd quarter worth about $625,000. Treasurer of the State of North Carolina grew its holdings in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after acquiring an additional 35,781 shares during the period. Finally, Ieq Capital LLC raised its position in shares of Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after acquiring an additional 31,068 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

CTAS stock opened at $204.18 on Monday. The stock has a market capitalization of $81.71 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 3.30 and a beta of 0.92. The company’s 50-day moving average is $194.43 and its 200-day moving average is $185.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping 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 firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts expect that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTAS. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird lifted their target price on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $231.00 price target on shares of Cintas in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.31.

About Cintas

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.