Summit Financial LLC Has $1.55 Million Holdings in Cintas Corporation $CTAS

Key Points

• Summit Financial LLC significantly increased its stake in Cintas Corporation by 292.9%, now owning 7,555 shares valued at approximately $1.55 million as disclosed in the latest SEC filing.
• Cintas Corporation reported a quarterly EPS of $1.09, exceeding analyst expectations, with revenues of $2.67 billion, marking an 8% increase from the same period last year.
• The company has announced a quarterly dividend of $0.45 per share, a rise from $0.39, representing an annualized yield of 0.8% and a dividend payout ratio of 40.82%.

Summit Financial LLC boosted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 292.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,555 shares of the business services provider's stock after buying an additional 5,632 shares during the quarter. Summit Financial LLC's holdings in Cintas were worth $1,553,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CTAS. Pinnacle Wealth Management Advisory Group LLC grew its holdings in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after acquiring an additional 47 shares during the period. MJP Associates Inc. ADV grew its holdings in shares of Cintas by 2.1% in the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Cintas by 4.1% in the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after buying an additional 51 shares during the period. Pinnacle Associates Ltd. grew its holdings in shares of Cintas by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock valued at $265,000 after buying an additional 51 shares during the period. Finally, Johnson Financial Group Inc. grew its holdings in shares of Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after buying an additional 52 shares during the period. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. The Goldman Sachs Group boosted their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Finally, Robert W. Baird boosted 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. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $224.54.

Cintas Stock Performance

CTAS traded up $0.21 on Wednesday, reaching $213.20. The company had a trading volume of 1,943,175 shares, compared to its average volume of 1,699,113. The company's fifty day moving average is $219.78 and its 200 day moving average is $212.76. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The stock has a market cap of $85.91 billion, a P/E ratio of 48.34, a P/E/G ratio of 3.65 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09.

Cintas (NASDAQ:CTAS - Get Free Report) last announced 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 firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the business posted $3.99 EPS. The business'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. As a group, analysts predict that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Cintas's payout ratio is currently 40.82%.

Insider Transactions at Cintas

In related 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 completion of the transaction, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the purchase, the director owned 2,621 shares in the company, valued at $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by insiders.

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.