Dockside LLC Acquires New Holdings in Cintas Corporation $CTAS

Dockside LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,526 shares of the business services provider’s stock, valued at approximately $600,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Cintas by 1.4% during the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock worth $2,879,632,000 after purchasing an additional 210,477 shares during the period. Geode Capital Management LLC increased its holdings in Cintas by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider’s stock valued at $1,746,453,000 after purchasing an additional 97,220 shares during the period. Norges Bank bought a new position in Cintas during the 4th quarter worth $923,672,000. Morgan Stanley raised its position in Cintas by 0.8% during the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock worth $826,214,000 after purchasing an additional 36,666 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Cintas by 4.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider’s stock worth $504,702,000 after buying an additional 112,622 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

CTAS stock opened at $199.52 on Friday. The firm has a market cap of $79.84 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 3.24 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. The stock has a 50-day moving average price of $188.85 and a 200-day moving average price of $184.71. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $221.36.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. The company 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, equities research analysts expect that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed 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 is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is an increase from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 48.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CTAS shares. UBS Group reiterated a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird lifted their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $231.00 target price on shares of Cintas in a report on Wednesday, July 15th. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and an average target price of $212.31.

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.