Rakuten Investment Management Inc. Invests $14.64 Million in Cintas Corporation $CTAS

Rakuten Investment Management Inc. purchased 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 purchased 86,578 shares of the business services provider’s stock, valued at approximately $14,639,000.

Several other large investors have also recently bought and sold shares of CTAS. AMG National Trust Bank bought a new position in Cintas in the 2nd quarter valued at about $1,973,000. Summit Global Investments bought a new stake 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 worth approximately $4,972,000. TimesSquare Capital Management LLC acquired a new position in shares of Cintas in the second quarter valued at approximately $62,057,000. Finally, Riverbridge Partners LLC grew its position in shares of Cintas by 7.7% in the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after purchasing an additional 16,437 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on CTAS shares. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. Robert W. Baird increased their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. UBS Group reissued a “buy” rating and set a $230.00 target price (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Finally, Argus raised shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $204.18 on Friday. The stock has a market capitalization of $81.71 billion, a PE ratio of 54.59, a P/E/G ratio of 3.30 and a beta of 0.92. The business has a fifty day moving average price of $194.43 and a two-hundred day moving average price of $185.51. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $219.16. 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 (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s quarterly revenue 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, equities analysts predict that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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. The ex-dividend date is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio (DPR) 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.