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

Key Points

• Summit Global Investments acquired 5,584 Cintas shares worth approximately $950,000 during the second quarter. Institutional investors and hedge funds collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in earnings per share and $2.91 billion in revenue, with year-over-year revenue growth of 8.9%.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $212.31, while Cintas raised its quarterly dividend to $0.52 per share, or $2.08 annually.

Summit Global Investments purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,584 shares of the business services provider's stock, valued at approximately $950,000.

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

Analysts Set New Price Targets

A number of equities analysts have commented on CTAS shares. Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $250.00 price target (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. UBS Group reiterated a "buy" rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $231.00 price objective on shares of Cintas in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.31.

Cintas Stock Down 0.6%

Shares of NASDAQ CTAS opened at $199.52 on Friday. The stock has a market cap of $79.84 billion, a PE ratio of 53.35, a P/E/G ratio of 3.24 and a beta of 0.92. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $221.36. The company has a 50-day moving average of $188.85 and a 200 day moving average of $184.71.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.05. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, sell-side analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas's dividend payout ratio is presently 48.13%.

Cintas 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.

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