Baird Financial Group Inc. Buys 19,245 Shares of Cintas Corporation $CTAS

Key Points

• Baird Financial Group increased its Cintas stake by 16.1% in the second quarter, purchasing 19,245 additional shares and bringing its holdings to 138,846 shares valued at approximately $23.6 million. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations with adjusted EPS of $1.29 and revenue of $2.91 billion, up 8.9% year over year. The company also raised its quarterly dividend to $0.52 per share, or $2.08 annually.
• Analysts remain generally positive, with Cintas receiving a “Moderate Buy” consensus rating and an average price target of $212.31; recent targets range as high as $250.

Baird Financial Group Inc. lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 16.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,846 shares of the business services provider's stock after buying an additional 19,245 shares during the period. Baird Financial Group Inc.'s holdings in Cintas were worth $23,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider's stock worth $321,000 after buying an additional 428 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Cintas in the second quarter valued at about $625,000. Treasurer of the State of North Carolina boosted its stake in Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider's stock valued at $47,291,000 after buying an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC grew its position in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider's stock valued at $20,710,000 after acquiring an additional 31,068 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

NASDAQ:CTAS opened at $201.50 on Friday. The stock has a market cap of $80.63 billion, a P/E ratio of 53.88, a PEG ratio of 3.20 and a beta of 0.91. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The business's 50-day moving average price is $199.96 and its two-hundred day moving average price is $185.77. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a net margin of 17.75% and a return on equity of 42.05%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the firm earned $1.09 EPS. The firm's quarterly 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. As a group, equities analysts predict that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas's payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTAS shares. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and raised their price objective for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Robert W. Baird raised their target price on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Argus upgraded Cintas to a "strong-buy" rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cintas currently has an average rating of "Moderate Buy" and an average price target of $212.31.

Cintas Profile

Cintas Corporation is a provider of workplace products and services for businesses across North America. The company helps organizations manage employee appearance, workplace cleanliness, safety, and compliance through a range of recurring service programs.

Its offerings include uniform rental and workwear, branded apparel, entrance mats, restroom supplies, and facility cleaning services. Cintas also provides first-aid and safety products, training, and fire protection services, including inspection and maintenance programs for fire extinguishers, sprinkler systems, alarms, and related equipment.

Headquartered in Mason, Ohio, Cintas traces its roots to a family-operated industrial laundry business established by Richard T.

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