CIBC Asset Management Inc Decreases Holdings in Cintas Corporation $CTAS

CIBC Asset Management Inc trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,073 shares of the business services provider’s stock after selling 5,246 shares during the quarter. CIBC Asset Management Inc’s holdings in Cintas were worth $26,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CTAS. WPG Advisers LLC purchased a new stake in Cintas during the first quarter valued at $27,000. Saudi Central Bank purchased a new position in Cintas in the first quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC grew its stake in shares of Cintas by 800.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 144 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 128 shares during the period. Golden State Wealth Management LLC increased its position in shares of Cintas by 3,925.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 161 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 157 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of Cintas by 57.0% during the 2nd quarter. Addison Advisors LLC now owns 168 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 61 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $188.83 on Friday. The stock has a market cap of $75.89 billion, a PE ratio of 42.82, a price-to-earnings-growth ratio of 3.20 and a beta of 0.96. Cintas Corporation has a 1 year low of $180.39 and a 1 year high of $229.24. The firm has a fifty day moving average price of $187.41 and a 200-day moving average price of $206.10. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.24 and a quick ratio of 1.94.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the company earned $1.10 EPS. Cintas’s revenue for the quarter was up 8.7% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas declared that its board has approved a share buyback program on Tuesday, October 28th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 14th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is currently 40.82%.

Analysts Set New Price Targets

CTAS has been the topic of a number of research reports. Wells Fargo & Company reissued a “cautious” rating and issued a $185.00 price objective (down previously from $218.00) on shares of Cintas in a report on Tuesday, November 25th. Royal Bank Of Canada decreased their price target on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 25th. Citigroup boosted their price objective on shares of Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a research report on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Cintas in a research note on Monday. Finally, Rothschild & Co Redburn raised Cintas from a “sell” rating to a “neutral” rating and set a $184.00 target price on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $212.71.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.