HBK Sorce Advisory LLC Acquires Shares of 3,038 Cintas Corporation $CTAS

HBK Sorce Advisory LLC bought a new position in shares of Cintas Corporation (NASDAQ:CTAS) in the second quarter, Holdings Channel.com reports. The fund bought 3,038 shares of the business services provider’s stock, valued at approximately $612,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cintas during the 4th quarter worth approximately $923,672,000. Bank of New York Mellon Corp purchased a new stake in shares of Cintas in the second quarter valued at approximately $644,334,000. Two Sigma Investments LP increased its holdings in shares of Cintas by 5,641.3% in the third quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after purchasing an additional 998,963 shares during the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Cintas by 275.2% in the third quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock valued at $230,556,000 after purchasing an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP lifted its position in Cintas by 5,341.8% during the third quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after buying an additional 733,380 shares in the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings raised 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 boosted their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. UBS Group restated a “buy” rating and set a $230.00 price objective (up from $228.00) on shares of Cintas in a research report on Thursday, July 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $206.00 target price on shares of Cintas in a research note on Thursday, July 16th. Finally, Argus upgraded shares of Cintas to a “strong-buy” rating in a report on Friday, July 17th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $212.31.

Cintas Stock Performance

Shares of Cintas stock opened at $197.82 on Tuesday. The firm has a market cap of $79.16 billion, a PE ratio of 52.89, a price-to-earnings-growth ratio of 3.22 and a beta of 0.91. 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 $219.87. The business’s fifty day simple moving average is $189.33 and its 200-day simple moving average is $184.70.

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

Cintas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. Cintas’s payout ratio is 55.61%.

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.