Palmer Knight Co Has $8.27 Million Holdings in Cintas Corporation $CTAS

Key Points

• Palmer Knight Co has reduced its stake in Cintas Corporation by 17.9%, now holding 37,110 shares valued at approximately $8.27 million, which constitutes 3.5% of its investment portfolio.
• Cintas recently announced an increase in its quarterly dividend from $0.39 to $0.45, reflecting an annualized dividend yield of 1.0%.
• The company reported a Q2 EPS of $1.20, slightly surpassing the consensus estimate, and had an 8.7% increase in revenue year-over-year, totaling $2.72 billion.

Palmer Knight Co trimmed its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,110 shares of the business services provider's stock after selling 8,104 shares during the period. Cintas comprises 3.5% of Palmer Knight Co's investment portfolio, making the stock its 13th biggest position. Palmer Knight Co's holdings in Cintas were worth $8,271,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in Cintas in the 1st quarter worth about $27,000. Saudi Central Bank bought a new stake in Cintas in the 1st quarter worth about $29,000. Stone House Investment Management LLC bought a new stake in Cintas in the 1st quarter worth about $41,000. Resources Management Corp CT ADV bought a new stake in Cintas in the 1st quarter worth about $41,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position 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 worth $43,000 after purchasing an additional 181 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the sale, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the sale, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company's stock.

Cintas Stock Up 2.0%

CTAS opened at $188.10 on Friday. The company has a 50 day moving average of $204.61 and a 200 day moving average of $212.43. The company has a market cap of $75.59 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 3.25 and a beta of 1.01. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. Cintas's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The firm also recently disclosed 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 of this dividend was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas's payout ratio is 40.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CTAS shares. UBS Group upped their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Citigroup increased their target price on shares of Cintas from $172.00 to $176.00 and gave the company a "sell" rating in a research report on Friday, September 26th. JPMorgan Chase & Co. reduced their target price on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. The Goldman Sachs Group increased their target price on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased their target price on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $222.09.

Cintas 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.

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