Pallas Capital Advisors LLC Has $2.32 Million Holdings in Cintas Corporation $CTAS

Key Points

• Pallas Capital Advisors LLC increased its stake in Cintas Corporation by 57.8% in Q2, now holding shares worth $2.32 million.
• Cintas Corporation's recent quarterly dividend increased from $0.39 to $0.45 per share, reflecting an annualized yield of 0.9%.
• Analysts have adjusted Cintas' price targets with UBS Group raising it to $255 and Morgan Stanley increasing it to $220, while maintaining various ratings.

Pallas Capital Advisors LLC raised its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 57.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,420 shares of the business services provider's stock after buying an additional 3,816 shares during the period. Pallas Capital Advisors LLC's holdings in Cintas were worth $2,322,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CTAS. WPG Advisers LLC purchased a new stake in shares of Cintas during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in shares of Cintas during the 1st quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new position in shares of Cintas during the 1st quarter worth approximately $41,000. Resources Management Corp CT ADV acquired a new position in Cintas in the 1st quarter valued at $41,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock valued at $43,000 after acquiring an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Trading Up 0.3%

Cintas stock traded up $0.62 during midday trading on Friday, reaching $200.13. The stock had a trading volume of 4,117,133 shares, compared to its average volume of 1,738,548. The firm's fifty day simple moving average is $214.68 and its two-hundred day simple moving average is $212.63. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The firm has a market cap of $80.65 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 3.45 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The company's revenue was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Equities analysts anticipate that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a $0.45 dividend. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.9%. Cintas's payout ratio is 40.82%.

Analysts Set New Price Targets

Several brokerages have weighed in on CTAS. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a report on Thursday, August 21st. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Morgan Stanley upped their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Robert W. Baird upped their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $224.54.

Insiders Place Their Bets

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the firm's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the sale, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.00% of the company's stock.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.