SCS Capital Management LLC Takes Position in Cintas Corporation $CTAS

SCS Capital Management LLC purchased a new stake in Cintas Corporation (NASDAQ:CTAS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,183 shares of the business services provider’s stock, valued at approximately $711,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Riverbridge Partners LLC grew its stake in shares of Cintas by 7.7% in the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock valued at $38,760,000 after purchasing an additional 16,437 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cintas during the second quarter worth approximately $4,972,000. Summit Global Investments acquired a new stake in shares of Cintas during the second quarter worth $950,000. SEB Asset Management AB acquired a new stake in shares of Cintas during the first quarter worth $22,366,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cintas by 2,286.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 736,620 shares of the business services provider’s stock valued at $138,536,000 after buying an additional 705,751 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Weiss Ratings raised shares of Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Bank of America raised shares of Cintas from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a report on Thursday, July 16th. UBS Group reiterated a “buy” rating and set a $230.00 price target (up from $228.00) on shares of Cintas in a research note on Thursday, July 16th. Truist Financial cut their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a report on Monday, June 15th. Finally, Robert W. Baird raised their price objective on shares of Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $199.52 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 52 week low of $161.16 and a 52 week high of $221.36. The firm has a 50-day moving average price of $188.85 and a 200 day moving average price of $184.65. The stock has a market capitalization of $79.84 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 3.22 and a beta of 0.91.

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

Cintas Increases Dividend

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

Cintas 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.