Trustmark Bank Trust Department Cuts Stake in Cintas Corporation $CTAS

Trustmark Bank Trust Department lessened its position in Cintas Corporation (NASDAQ:CTAS) by 27.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,003 shares of the business services provider’s stock after selling 7,171 shares during the period. Trustmark Bank Trust Department’s holdings in Cintas were worth $3,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Cintas during the second quarter worth about $4,520,425,000. State Street Corp lifted its position in Cintas by 1.4% in the fourth quarter. State Street Corp now owns 15,311,491 shares of the business services provider’s stock valued at $2,879,632,000 after purchasing an additional 210,477 shares during the period. Geode Capital Management LLC lifted its position 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 purchased a new stake in Cintas in the 4th quarter valued at approximately $923,672,000. Finally, Morgan Stanley boosted its holdings in Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider’s stock valued at $826,214,000 after purchasing an additional 36,666 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ CTAS opened at $204.18 on Friday. The business has a 50 day moving average price of $194.43 and a 200 day moving average price of $185.51. 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. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating 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 company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. Cintas’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Sell-side analysts expect that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is an increase from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 14th. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas’s payout ratio is 55.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTAS. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 target price on shares of Cintas in a research note on Wednesday, July 15th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Friday, July 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.