Oppenheimer Asset Management Inc. Purchases Shares of 29,235 Cintas Corporation $CTAS

Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 29,235 shares of the business services provider’s stock, valued at approximately $4,972,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in shares of Cintas during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in shares of Cintas in the fourth quarter worth approximately $25,000. Kemnay Advisory Services Inc. purchased a new position in shares of Cintas in the fourth quarter worth $26,000. Triumph Capital Management purchased a new position in shares of Cintas in the third quarter worth $29,000. Finally, Camelot Portfolios LLC bought a new stake in Cintas during the 4th quarter valued at $26,000. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Down 0.6%

CTAS stock opened at $199.52 on Friday. The business has a 50 day moving average of $188.85 and a 200 day moving average of $184.71. The firm has a market cap of $79.84 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 3.22 and a beta of 0.92. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $221.36. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, research analysts forecast that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 48.13%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTAS. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Argus upgraded shares of Cintas to a “strong-buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $231.00 price objective on shares of Cintas in a research note on Wednesday, July 15th. Robert W. Baird increased their target price on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

About Cintas

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.