StoneRidge PMG Advisors LLC Acquires New Stake in Cintas Corporation $CTAS

StoneRidge PMG Advisors LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,812 shares of the business services provider’s stock, valued at approximately $549,000.

Several other large investors have also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC boosted its position in Cintas by 1,712.5% in the 1st 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 during the period. Meeder Asset Management Inc. acquired a new stake in shares of Cintas in the second quarter valued at $27,000. Archer Investment Corp purchased a new position in Cintas in the first quarter valued at $32,000. Highland Investment Advisors LLC purchased a new position in Cintas in the second quarter valued at $32,000. Finally, Pingora Partners LLC purchased a new position in Cintas in the second quarter valued at $34,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CTAS. Argus upped their price target on Cintas from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, September 29th. The Goldman Sachs Group increased their price target on Cintas from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Bank of America reiterated a “buy” rating and issued a $232.00 price objective on shares of Cintas in a research note on Thursday, October 29th. UBS Group reissued a “buy” rating and set a $235.00 price objective (up from $230.00) on shares of Cintas in a research report on Thursday, September 24th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Cintas in a research note on Thursday, September 10th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cintas presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.62.

Cintas Stock Performance

Shares of CTAS stock opened at $222.36 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.29 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $206.46 and a 200 day moving average price of $191.28. The company has a market cap of $88.29 billion, a P/E ratio of 43.86, a PEG ratio of 3.53 and a beta of 0.86. Cintas Corporation has a 12 month low of $161.16 and a 12 month high of $233.46.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%. Cintas’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. Sell-side analysts predict that Cintas Corporation will post 5.53 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 13th will be issued a $0.52 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas’s dividend payout ratio is presently 41.03%.

Cintas Company Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms.

The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment.

Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.