Pacer Advisors Inc. Lowers Stake in Cintas Corporation $CTAS

Key Points

• Pacer Advisors cut its Cintas stake by 34.8% in the first quarter, selling 21,354 shares and retaining 40,036 shares valued at approximately $6.77 million. Institutional investors collectively own 63.46% of CTAS.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue, with revenue up 8.9% year over year. The company raised its quarterly dividend from $0.45 to $0.52 per share.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $212.31, compared with the stock’s stated price of $201.40.

Pacer Advisors Inc. reduced its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 34.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,036 shares of the business services provider's stock after selling 21,354 shares during the quarter. Pacer Advisors Inc.'s holdings in Cintas were worth $6,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of Cintas by 31.9% during the 1st quarter. Empowered Funds LLC now owns 37,587 shares of the business services provider's stock valued at $6,357,000 after buying an additional 9,083 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services increased its stake in Cintas by 19.9% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 17,377 shares of the business services provider's stock worth $2,939,000 after buying an additional 2,887 shares in the last quarter. Parallel Advisors LLC increased its stake in Cintas by 9.5% in the 1st quarter. Parallel Advisors LLC now owns 7,252 shares of the business services provider's stock worth $1,227,000 after buying an additional 627 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Cintas by 2.1% during the first quarter. Glenmede Trust Co. NA now owns 22,368 shares of the business services provider's stock valued at $3,783,000 after acquiring an additional 450 shares during the period. Finally, Ritter Alpha LP raised its holdings in Cintas by 20.3% during the first quarter. Ritter Alpha LP now owns 1,296 shares of the business services provider's stock valued at $219,000 after acquiring an additional 219 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Down 1.1%

CTAS opened at $201.40 on Thursday. The company has a market capitalization of $80.59 billion, a PE ratio of 53.85, a price-to-earnings-growth ratio of 3.29 and a beta of 0.92. The firm has a 50-day simple moving average of $185.01 and a two-hundred day simple moving average of $184.25. 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 $226.75.

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

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis 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 presently 48.13%.

Analyst Ratings Changes

CTAS has been the subject of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $231.00 price objective on shares of Cintas in a research note on Wednesday, July 15th. Wells Fargo & Company reissued an "overweight" rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a research note 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 raised Cintas from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $206.00 price objective on shares of Cintas 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 given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.31.

Cintas Company 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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