JPMorgan Chase & Co. Reduces Stock Position in Cintas Corporation $CTAS

JPMorgan Chase & Co. trimmed its holdings in Cintas Corporation (NASDAQ:CTAS) by 11.0% during the third quarter, HoldingsChannel.com reports. The firm owned 2,116,711 shares of the business services provider’s stock after selling 261,510 shares during the period. JPMorgan Chase & Co.’s holdings in Cintas were worth $434,491,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its holdings in Cintas by 6.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 129,128 shares of the business services provider’s stock valued at $26,505,000 after acquiring an additional 7,386 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Cintas by 12.9% in the 3rd quarter. HighTower Advisors LLC now owns 81,338 shares of the business services provider’s stock worth $16,707,000 after purchasing an additional 9,291 shares during the last quarter. Assetmark Inc. raised its stake in shares of Cintas by 21.7% in the 3rd quarter. Assetmark Inc. now owns 15,346 shares of the business services provider’s stock valued at $3,150,000 after purchasing an additional 2,739 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Cintas by 15.2% during the third quarter. Public Sector Pension Investment Board now owns 27,010 shares of the business services provider’s stock worth $5,544,000 after purchasing an additional 3,566 shares during the last quarter. Finally, ICW Investment Advisors LLC increased its holdings in Cintas by 9.9% in the third quarter. ICW Investment Advisors LLC now owns 4,122 shares of the business services provider’s stock valued at $846,000 after buying an additional 371 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $196.41 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.71 and a quick ratio of 1.49. The firm has a market capitalization of $78.54 billion, a PE ratio of 57.26, a P/E/G ratio of 3.34 and a beta of 0.95. Cintas Corporation has a 1-year low of $180.39 and a 1-year high of $229.24. The business’s fifty day moving average price is $191.60 and its two-hundred day moving average price is $195.79.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 18th. The business services provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.20 by $0.01. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.77 billion. Cintas had a net margin of 17.58% and a return on equity of 41.07%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Cintas has set its FY 2026 guidance at 4.810-4.880 EPS. On average, research analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 28th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 13th. Cintas’s payout ratio is 52.48%.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research reports. Bank of America assumed coverage on Cintas in a research report on Tuesday. They issued a “neutral” rating and a $215.00 target price for the company. Sanford C. Bernstein started coverage on Cintas in a research note on Wednesday, November 12th. They set a “market perform” rating and a $200.00 price objective on the stock. Citigroup reiterated a “sell” rating and set a $181.00 target price (up previously from $176.00) on shares of Cintas in a research note on Monday, December 22nd. Morgan Stanley dropped their target price on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Finally, Rothschild & Co Redburn set a $184.00 price target on shares of Cintas in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Cintas presently has an average rating of “Hold” and a consensus target price of $218.17.

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.