Panagora Asset Management Inc. Purchases 14,981 Shares of Cintas Corporation $CTAS

Key Points

• Panagora Asset Management Inc. increased its stake in Cintas Corporation by 7.6% in Q1, acquiring an additional 14,981 shares to reach a total of 212,676 shares valued at approximately $43.7 million.
• Cintas has received various target price upgrades from analysts, with Goldman Sachs raising its target from $233 to $257 and UBS increasing its price objective from $240 to $255.
• The company recently announced a dividend increase to $0.45 per share, up from $0.39, reflecting a positive change in its annualized dividend yield to 0.9%.

Panagora Asset Management Inc. grew its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,676 shares of the business services provider's stock after acquiring an additional 14,981 shares during the period. Panagora Asset Management Inc. owned about 0.05% of Cintas worth $43,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC increased its holdings in Cintas by 9.8% in the 1st quarter. Evergreen Capital Management LLC now owns 3,893 shares of the business services provider's stock worth $800,000 after acquiring an additional 348 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Cintas by 73.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 38,306 shares of the business services provider's stock worth $7,873,000 after purchasing an additional 16,258 shares during the period. WPG Advisers LLC bought a new stake in shares of Cintas during the first quarter worth $27,000. State of Wyoming lifted its stake in Cintas by 7.8% in the first quarter. State of Wyoming now owns 1,965 shares of the business services provider's stock worth $404,000 after acquiring an additional 143 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in Cintas by 21.1% during the 1st quarter. Landscape Capital Management L.L.C. now owns 12,389 shares of the business services provider's stock valued at $2,546,000 after purchasing an additional 2,158 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Cintas Stock Performance

CTAS stock traded up $0.10 during mid-day trading on Wednesday, reaching $205.61. 2,220,056 shares of the stock traded hands, compared to its average volume of 1,716,522. The firm has a market capitalization of $82.86 billion, a PE ratio of 46.62, a P/E/G ratio of 3.62 and a beta of 1.01. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The business has a 50-day moving average of $218.65 and a two-hundred day moving average of $212.92.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The business had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same period in the previous year, the business posted $3.99 earnings per share. Cintas's quarterly revenue was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.9%. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Morgan Stanley increased their price objective on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Cintas in a research note on Monday, July 14th. They set an "overweight" rating and a $239.00 target price for the company. The Goldman Sachs Group raised their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $224.54.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares of the company's stock, valued at $4,904,049.15. The trade was a 18.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

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.