Glazer Capital LLC Takes $10.45 Million Position in Cintas Corporation $CTAS

Glazer Capital LLC purchased a new stake in shares of Cintas Corporation (NASDAQ:CTAS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 61,416 shares of the business services provider’s stock, valued at approximately $10,446,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. One Capital Management LLC grew its position in Cintas by 0.9% during the fourth quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 53 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after buying an additional 58 shares in the last quarter. Sachetta LLC lifted its position in Cintas by 46.0% in the 1st quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock worth $34,000 after buying an additional 63 shares in the last quarter. Ausdal Financial Partners Inc. boosted its stake in shares of Cintas by 2.8% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock valued at $510,000 after buying an additional 63 shares during the period. Finally, Elyxium Wealth LLC boosted its stake in shares of Cintas by 4.9% during the 4th quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock valued at $257,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Trading Down 0.8%

Shares of CTAS stock opened at $204.15 on Friday. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $219.16. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $193.76 and its two-hundred day moving average is $185.38. The company has a market cap of $81.69 billion, a PE ratio of 54.59, a price-to-earnings-growth ratio of 3.32 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a net margin of 17.75% and a return on equity of 42.05%. Cintas’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities analysts predict that Cintas Corporation will post 5.49 EPS for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is presently 55.61%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTAS. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research note on Thursday, July 16th. Argus raised Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Wells Fargo & Company restated an “overweight” rating and issued a $250.00 target price (up from $245.00) on shares of Cintas in a research note on Thursday, July 16th. Truist Financial dropped their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Finally, Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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.