Cintas Corporation $CTAS Stake Reduced by Strategic Planning Group LLC

Key Points

• Strategic Planning Group LLC cut its Cintas stake by 29.6% in the third quarter, selling 23,982 shares and retaining 56,917 shares valued at approximately $11.1 million. Institutional investors collectively own 63.46% of CTAS.
• Analyst sentiment remains positive, with Cintas holding a “Moderate Buy” consensus rating and an average price target of $218.50; recent firms raised targets as high as $240.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.39 EPS and $3.01 billion in revenue, while revenue grew 10.9% year over year. The company also increased its quarterly dividend to $0.52 per share.

Strategic Planning Group LLC lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 29.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,917 shares of the business services provider's stock after selling 23,982 shares during the period. Strategic Planning Group LLC's holdings in Cintas were worth $11,102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTAS. Brookstone Capital Management lifted its stake in shares of Cintas by 5.8% during the 3rd quarter. Brookstone Capital Management now owns 2,647 shares of the business services provider's stock worth $516,000 after buying an additional 145 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Cintas during the 3rd quarter worth about $201,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Cintas during the 3rd quarter worth about $16,717,000. Precedent Wealth Partners LLC acquired a new position in Cintas in the 3rd quarter valued at about $221,000. Finally, Woodward Diversified Capital LLC acquired a new position in Cintas in the 3rd quarter valued at about $233,000. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on CTAS shares. Sanford C. Bernstein restated a "market perform" rating on shares of Cintas in a research report on Thursday, September 10th. Weiss Ratings raised Cintas from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Rothschild & Co Redburn increased their target price on Cintas from $184.00 to $198.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Argus increased their target price on Cintas from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Tuesday, September 29th. Finally, UBS Group reissued a "buy" rating and set a $235.00 price target (up from $230.00) on shares of Cintas in a report on Thursday, September 24th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of "Moderate Buy" and an average target price of $218.50.

Cintas Price Performance

CTAS stock opened at $224.04 on Friday. The company has a fifty day moving average price of $202.22 and a 200-day moving average price of $188.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $225.43. The company has a market capitalization of $88.96 billion, a P/E ratio of 44.19, a PEG ratio of 3.49 and a beta of 0.92.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.04. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the business earned $1.20 EPS. Cintas's quarterly revenue was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, equities analysts expect that Cintas Corporation will post 5.53 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.9%. This is an increase from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 14th. Cintas's dividend payout ratio is presently 41.03%.

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.

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