Resona Asset Management Co. Ltd. Buys 4,424 Shares of Cintas Corporation $CTAS

Resona Asset Management Co. Ltd. grew its stake in Cintas Corporation (NASDAQ:CTAS) by 3.3% during the second quarter, HoldingsChannel reports. The fund owned 138,007 shares of the business services provider’s stock after acquiring an additional 4,424 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cintas were worth $30,698,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in Cintas in the first quarter valued at about $27,000. Saudi Central Bank bought a new stake in shares of Cintas in the 1st quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in shares of Cintas by 800.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after buying an additional 128 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of Cintas in the 1st quarter worth approximately $41,000. Finally, Resources Management Corp CT ADV bought a new position in shares of Cintas during the 1st quarter worth approximately $41,000. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Robert W. Baird raised their price objective on Cintas from $227.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Citigroup boosted their target price on Cintas from $172.00 to $176.00 and gave the stock a “sell” rating in a research note on Friday, September 26th. Morgan Stanley raised their price target on Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cintas in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $222.09.

Cintas Stock Down 0.5%

Cintas stock opened at $184.89 on Friday. The business’s 50-day simple moving average is $196.54 and its two-hundred day simple moving average is $211.15. 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 company has a market cap of $74.30 billion, a PE ratio of 41.93, a PEG ratio of 3.18 and a beta of 0.99. Cintas Corporation has a fifty-two week low of $180.39 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. The firm 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 company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Announces Dividend

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

Cintas declared that its board has initiated a share repurchase plan on Tuesday, October 28th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.