Coastal Bridge Advisors LLC Makes New $569,000 Investment in Cintas Corporation $CTAS

Coastal Bridge Advisors LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,346 shares of the business services provider’s stock, valued at approximately $569,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Cintas in the 2nd quarter valued at approximately $4,520,425,000. Norges Bank purchased a new position in Cintas during the fourth quarter worth $923,672,000. Bank of New York Mellon Corp acquired a new position in shares of Cintas in the second quarter worth $644,334,000. Legal & General Group Plc acquired a new position in shares of Cintas in the second quarter worth $386,159,000. Finally, Bank of America Corp DE purchased a new stake in shares of Cintas in the second quarter valued at $233,111,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Get Cintas alerts:

Cintas Stock Performance

Cintas stock opened at $204.18 on Friday. The stock has a fifty day moving average price of $194.43 and a 200 day moving average price of $185.51. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $219.16. The firm has a market capitalization of $81.71 billion, a P/E ratio of 54.59, a PEG ratio of 3.30 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

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

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be given a $0.52 dividend. This is a boost 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 of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is 55.61%.

Analyst Ratings Changes

A number of research firms recently commented on CTAS. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 price objective (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. Truist Financial reduced their target price on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird upped their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Finally, Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Check Out Our Latest Stock Report on Cintas

About Cintas

(Free Report)

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.

Read More

• Five stocks we like better than Cintas
• 3 Financial Stocks Positioned for the Fed’s Next Move After Jackson Hole
• IREN’s AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
• Boeing’s $131B F-15 Win: Mach 1 Momentum or Just Altitude?
• Okta Stock Surges 29%—Is $200 the Next Stop?

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS – Free Report).

Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.