5,584 Shares in Cintas Corporation $CTAS Purchased by Summit Global Investments

Summit Global Investments bought a new position 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 fund bought 5,584 shares of the business services provider’s stock, valued at approximately $950,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Nemes Rush Group LLC purchased a new stake in shares of Cintas in the 4th quarter valued at approximately $25,000. First United Bank & Trust purchased a new stake in shares of Cintas during the 1st quarter valued at approximately $25,000. Whipplewood Advisors LLC lifted its holdings in Cintas by 1,712.5% in the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Swiss RE Ltd. acquired a new position in Cintas in the fourth quarter valued at approximately $25,000. Finally, Camelot Portfolios LLC purchased a new position in Cintas in the fourth quarter worth approximately $26,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CTAS shares. Truist Financial cut their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Robert W. Baird increased their price target on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. UBS Group reissued a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Bank of America upgraded shares of Cintas from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $212.31.

Cintas Price Performance

CTAS stock opened at $199.52 on Friday. The business’s fifty day moving average price is $188.85 and its 200 day moving average price is $184.71. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $221.36. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $79.84 billion, a PE ratio of 53.35, a P/E/G ratio of 3.24 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, sell-side analysts anticipate that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This is a boost from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s dividend payout ratio is currently 48.13%.

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.