Glazer Capital LLC Makes New $10.45 Million Investment in Cintas Corporation $CTAS

Key Points

• Glazer Capital purchased 61,416 Cintas shares worth approximately $10.45 million in the second quarter. Institutional investors and hedge funds collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in earnings per share and $2.91 billion in revenue, with revenue up 8.9% year over year. The company’s FY 2027 EPS guidance is $5.36–$5.50.
• Cintas raised its quarterly dividend to $0.52 per share, or $2.08 annually, while analysts maintain a “Moderate Buy” consensus and a $212.31 average price target.

Glazer Capital LLC purchased a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 61,416 shares of the business services provider's stock, valued at approximately $10,446,000.

Other large investors also recently modified their holdings of the company. Nemes Rush Group LLC bought a new stake in shares of Cintas during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of Cintas in the 4th quarter worth approximately $25,000. First United Bank & Trust bought a new position in shares of Cintas in the first quarter valued at approximately $25,000. Whipplewood Advisors LLC increased its stake in shares of Cintas by 1,712.5% during the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock valued at $25,000 after acquiring an additional 137 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Cintas during the fourth quarter valued at approximately $26,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of NASDAQ CTAS opened at $204.15 on Friday. The stock's fifty day simple moving average is $193.76 and its 200 day simple moving average is $185.38. The stock has a market capitalization of $81.69 billion, a price-to-earnings ratio of 54.59, a PEG ratio of 3.32 and a beta of 0.92. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. 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 released its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.Cintas's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $1.09 EPS. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, sell-side analysts forecast that Cintas Corporation will post 5.49 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. This is an increase 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 55.61%.

Analysts Set New Price Targets

CTAS has been the subject of a number of research analyst reports. Wells Fargo & Company restated 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. Weiss Ratings raised Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and upped their price objective for the company from $200.00 to $230.00 in a report on Thursday, July 16th. Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research note on Monday, June 15th. Finally, Robert W. Baird lifted their target price on Cintas from $200.00 to $214.00 and gave the stock an "outperform" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Cintas currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.31.

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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