Palisade Capital Management LP Takes $12.20 Million Position in Cintas Corporation $CTAS

Palisade Capital Management LP acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 71,699 shares of the business services provider’s stock, valued at approximately $12,195,000.

Several other institutional investors have also recently added to or reduced their stakes in CTAS. Nemes Rush Group LLC acquired a new position in Cintas during the fourth quarter worth $25,000. First United Bank & Trust purchased a new position in shares of Cintas during the first quarter worth $25,000. Whipplewood Advisors LLC grew its stake in shares of Cintas by 1,712.5% in the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after buying an additional 137 shares in the last quarter. Swiss RE Ltd. acquired a new stake in shares of Cintas in the fourth quarter valued at $25,000. Finally, Camelot Portfolios LLC purchased a new stake in shares of Cintas in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Down 1.3%

Shares of NASDAQ CTAS opened at $204.76 on Wednesday. The stock has a market cap of $81.94 billion, a P/E ratio of 54.75, a PEG ratio of 3.35 and a beta of 0.92. The business’s fifty day simple moving average is $192.37 and its 200-day simple moving average is $185.24. Cintas Corporation has a 12-month low of $161.16 and a 12-month high of $219.16. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

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

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 14th. This is a boost from Cintas’s previous quarterly dividend of $0.45. Cintas’s dividend payout ratio (DPR) is 55.61%.

Analyst Ratings Changes

A number of brokerages recently commented on CTAS. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Robert W. Baird boosted their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. The Goldman Sachs Group reissued a “buy” rating and set a $231.00 price target on shares of Cintas in a research report on Wednesday, July 15th. Truist Financial lowered their price objective on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cintas presently has a consensus 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.