Montchanin Asset Management LLC Makes New Investment in Cintas Corporation $CTAS

Key Points

• Montchanin Asset Management acquired 19,093 Cintas shares worth approximately $3.23 million, making Cintas its ninth-largest holding at 3.3% of the portfolio. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS versus the $1.24 consensus and revenue of $2.91 billion, up 8.9% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $212.31, while Cintas raised its quarterly dividend to $0.52 per share from $0.45.

Montchanin Asset Management LLC acquired a new position in Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,093 shares of the business services provider's stock, valued at approximately $3,229,000. Cintas makes up approximately 3.3% of Montchanin Asset Management LLC's investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Cintas by 1.4% during the 4th quarter. State Street Corp now owns 15,311,491 shares of the business services provider's stock valued at $2,879,632,000 after buying an additional 210,477 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cintas by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 9,293,485 shares of the business services provider's stock worth $1,746,453,000 after buying an additional 97,220 shares during the period. Norges Bank purchased a new stake in Cintas in the 4th quarter worth $923,672,000. Morgan Stanley increased its stake in Cintas by 0.8% in the 4th quarter. Morgan Stanley now owns 4,393,116 shares of the business services provider's stock worth $826,214,000 after buying an additional 36,666 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Cintas by 4.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,683,582 shares of the business services provider's stock valued at $504,702,000 after acquiring an additional 112,622 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTAS. Bank of America upgraded Cintas from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Truist Financial cut their target price on Cintas from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Monday, June 15th. Robert W. Baird lifted their target price on Cintas from $200.00 to $214.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded Cintas from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of "Moderate Buy" and a consensus price target of $212.31.

Cintas Price Performance

Shares of Cintas stock opened at $204.63 on Friday. The firm has a market cap of $81.89 billion, a PE ratio of 54.71, a PEG ratio of 3.34 and a beta of 0.94. The stock has a 50 day moving average of $183.11 and a 200 day moving average of $184.12. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $226.75.

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

Cintas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost 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 48.13%.

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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