Cintas Corporation $CTAS Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Cintas stake by 4.9% in the third quarter, selling 9,505 shares and retaining 184,275 shares valued at approximately $35.9 million. Institutional investors collectively own 63.46% of the company.
• Cintas reported quarterly earnings of $1.39 per share, beating estimates of $1.35, while revenue rose 10.9% year over year to $3.01 billion. The company guided to fiscal 2027 EPS of $5.45–$5.54.
• The company raised its quarterly dividend from $0.45 to $0.52 per share, bringing the annualized dividend to $2.08 and the yield to about 1.1%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $216.08.

Argent Capital Management LLC lowered its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,275 shares of the business services provider's stock after selling 9,505 shares during the quarter. Cintas makes up approximately 0.3% of Argent Capital Management LLC's investment portfolio, making the stock its 24th largest position. Argent Capital Management LLC's holdings in Cintas were worth $35,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Cintas in the second quarter valued at approximately $4,520,425,000. Bank of New York Mellon Corp bought a new stake in shares of Cintas during the second quarter worth $644,334,000. Amundi increased its holdings in shares of Cintas by 6.3% during the first quarter. Amundi now owns 2,402,362 shares of the business services provider's stock worth $406,336,000 after buying an additional 142,576 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Cintas during the second quarter worth $386,159,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Cintas by 8.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,167,957 shares of the business services provider's stock valued at $366,673,000 after acquiring an additional 165,752 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Up 0.7%

CTAS traded up $1.38 during midday trading on Monday, hitting $194.40. 407,494 shares of the company were exchanged, compared to its average volume of 2,137,450. The firm's 50 day moving average price is $201.57 and its 200-day moving average price is $185.54. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The firm has a market capitalization of $77.90 billion, a P/E ratio of 38.34, a P/E/G ratio of 3.07 and a beta of 0.92. The company has a quick ratio of 1.29, a current ratio of 1.45 and a debt-to-equity ratio of 0.27.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%.The business's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, equities analysts forecast that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were given a $0.52 dividend. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. Cintas's dividend payout ratio is presently 41.03%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. 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 reiterated 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. Citigroup lifted their price target on Cintas from $180.00 to $181.00 and gave the company a "sell" rating in a research note on Wednesday, September 30th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Cintas in a research note on Thursday, September 10th. Finally, UBS Group reaffirmed a "buy" rating and issued a $235.00 price objective (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $216.08.

About Cintas

Cintas Corporation NASDAQ: CTAS provides workplace services to businesses and organizations across North America. The company's primary business is uniform rental and facility services, including the design, rental, cleaning and delivery of uniforms, work apparel and related garments.

Its offerings also include restroom and hygiene services, floor-care products, mats, towels, and other facility supplies. Through its First Aid & Safety segment, Cintas provides first-aid products, safety equipment and training.

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