Wellington Management Group LLP Buys 181,620 Shares of Cintas Corporation $CTAS

Wellington Management Group LLP grew its stake in Cintas Corporation (NASDAQ:CTAS – Free Report) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,542,613 shares of the business services provider’s stock after purchasing an additional 181,620 shares during the period. Wellington Management Group LLP owned about 0.39% of Cintas worth $262,368,000 as of its most recent filing with the Securities and Exchange Commission.

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

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Cintas Price Performance

CTAS stock opened at $204.18 on Monday. The company 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 fifty day moving average price of $194.43 and a 200-day moving average price of $185.45. 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 Corporation has a 52-week low of $161.16 and a 52-week high of $219.16.

Cintas (NASDAQ:CTAS – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities analysts expect that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. 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%. Cintas’s payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

CTAS has been the subject of a number of research reports. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Argus upgraded Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given 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 an average price target of $212.31.

Check Out Our Latest Analysis on CTAS

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.

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