Geode Capital Management LLC recently announced the acquisition of new stake in Cintas Corporation (NASDAQ:CTAS). The institutional investor has increased its shareholding in the Industrials company by 11.78% to 2.16 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 2.13% valued currently at $1.2 billion. In addition, Fidelity Management & Research Co raised its holdings by 92460.0 to 1.91 million shares. And Northern Trust Investments, Inc. has lifted its position by 7.40% or 60617.0 shares – to 0.88 million shares.
With over 0.47 million Cintas Corporation (CTAS) shares trading Friday and a closing price of $595.24 on the day, the dollar volume was approximately $278.53 million. The shares have shown a positive half year performance of 22.64% and its price on 12/22/23 gained nearly 0.90%. Currently, there are 101.73M common shares owned by the public and among those 86.62M shares have been available to trade.
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Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 117,286 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 83,781 shares.
The top 3 mutual fund holders in Cintas Corporation are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 2.71 million shares of the company’s stock, all valued at over $1.5 billion. The company bought an additional 3182.0 shares recently to bring their total holdings to about 2.66% of the shares outstanding. Vanguard 500 Index Fund bought 10292.0 shares to see its total holdings expand to 2.09 million shares valued at over $1.16 billion and representing 2.05% of the shares outstanding. Vanguard Mid Cap Index Fund bought 4599.0 shares to bring its total holdings to over 1.96 million shares at a value of $1.09 billion. Vanguard Mid Cap Index Fund now owns shares totaling to 1.93% of the shares outstanding.
Shares of Cintas Corporation (NASDAQ: CTAS) opened at $592.16, up $2.21 from a prior closing price of $589.95. However, the script later moved the day high at 597.74, up 0.90%. The company’s stock has a 5-day price change of 6.54% and 17.75% over the past three months. CTAS shares are trading 31.80% year to date (YTD), with the 12-month market performance up to 28.18% higher. It has a 12-month low price of $423.06 and touched a high of $591.26 over the same period. CTAS has an average intraday trading volume of 399.59K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.54%, 10.99%, and 20.57% respectively.
Institutional ownership of Cintas Corporation (NASDAQ: CTAS) shares accounts for 64.42% of the company’s 101.73M shares outstanding. Mutual fund holders own 26.90%, while other institutional holders and individual stakeholders account for 38.07% and 20.77% respectively.
It has a market capitalization of $60.63B and a beta (3y monthly) value of 1.27. The stock’s trailing 12-month PE ratio is 43.18, while the earnings-per-share (ttm) stands at $13.79. The company has a PEG of 3.55 and a Quick Ratio of 1.89 with the debt-to-equity ratio at 0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.75% over the week and 1.50% over the month.
Analysts forecast that Cintas Corporation (CTAS) will achieve an EPS of $3.56 for the current quarter, $3.68 for the next quarter and $16.11 for 2025. The lowest estimate earnings-per-share for the quarter is $3.46 while analysts give the company a high EPS estimate of $3.68. Comparatively, EPS for the current quarter was $3.14 a year ago. Earnings per share for the fiscal year are expected to increase by 12.23%, and 10.78% over the next financial year. EPS should shrink at an annualized rate of 12.17% over the next five years, compared to 13.11% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Cintas Corporation (CTAS) as a “Moderate Buy” at a consensus score of 2.24. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 9 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CTAS, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on December 08, 2023, with the firm’s price target at $551-$590.
