Argent Capital Management LLC Buys 14,231 Shares of Cintas Corporation $CTAS

Key Points

• Argent Capital Management increased its Cintas stake by 64.2% in the first quarter, buying 14,231 additional shares and bringing its holdings to 36,397 shares valued at approximately $6.16 million. Institutional investors collectively own 63.46% of Cintas.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with revenue up 8.9% year over year. Analysts maintain a consensus “Moderate Buy” rating and an average price target of $212.31.
• The company raised its quarterly dividend from $0.45 to $0.52 per share, equivalent to an annualized dividend of $2.08 and a 1.0% yield.

Argent Capital Management LLC lifted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 64.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,397 shares of the business services provider's stock after buying an additional 14,231 shares during the quarter. Argent Capital Management LLC's holdings in Cintas were worth $6,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after buying an additional 108 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Cintas by 42.3% in the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock valued at $321,000 after acquiring an additional 428 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in Cintas during the second quarter worth about $625,000. Treasurer of the State of North Carolina raised its stake in Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock worth $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after purchasing an additional 31,068 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Monday, June 15th. UBS Group restated a "buy" rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a "buy" rating and set a $231.00 target price on shares of Cintas in a research report on Wednesday, July 15th. Finally, Argus raised Cintas to a "strong-buy" rating in a report on Friday, July 17th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $212.31.

Cintas Trading Down 1.0%

Shares of Cintas stock opened at $204.63 on Friday. The firm's 50 day moving average is $183.11 and its 200 day moving average is $184.12. The firm has a market capitalization of $81.89 billion, a PE ratio of 54.71, a price-to-earnings-growth ratio of 3.34 and a beta of 0.94. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. 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 (NASDAQ:CTAS - Get Free Report) last announced its quarterly 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. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.87 billion. During the same period in the prior year, the company earned $1.09 EPS. 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. Equities research analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 14th. This is a boost from Cintas's previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a yield of 1.0%. Cintas's dividend payout ratio (DPR) is currently 48.13%.

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.

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