Empowered Funds LLC Buys New Shares in Cintas Corporation $CTAS

Key Points

• Empowered Funds LLC purchased 40,701 Cintas shares worth approximately $6.9 million in the second quarter. Institutional investors collectively own 63.46% of the company.
• Analyst sentiment is favorable, with a consensus rating of “Moderate Buy” and an average price target of $212.31; targets from several firms range as high as $230.
• Cintas exceeded quarterly earnings and revenue expectations, reporting $1.29 in EPS and $2.91 billion in revenue. The company also raised its quarterly dividend to $0.52 per share, equivalent to a 1.0% annual yield.

Empowered Funds LLC purchased a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 40,701 shares of the business services provider's stock, valued at approximately $6,922,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares in the last quarter. Sivia Capital Partners LLC boosted 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 purchasing an additional 428 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Cintas in the second quarter valued at $625,000. Treasurer of the State of North Carolina grew its holdings in Cintas by 20.3% during the 2nd 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 purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in Cintas by 50.2% during 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 in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CTAS. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a research note on Thursday, July 16th. Argus upgraded Cintas to a "strong-buy" rating in a research note on Friday, July 17th. Robert W. Baird lifted their price objective on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. Bank of America raised Cintas from a "neutral" rating to a "buy" rating and upped their target price for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, UBS Group reissued 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $212.31.

Cintas Stock Performance

Cintas stock opened at $204.18 on Monday. 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 firm has a 50-day moving average price of $194.43 and a two-hundred day moving average price of $185.45. The firm has a market capitalization of $81.71 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.30 and a beta of 0.92. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $219.16.

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

Cintas Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Cintas's previous quarterly dividend of $0.45. Cintas's dividend payout ratio is 55.61%.

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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