700,157 Shares in Cintas Corporation $CTAS Bought by Man Group plc

Man Group plc acquired a new stake in Cintas Corporation (NASDAQ:CTAS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 700,157 shares of the business services provider’s stock, valued at approximately $119,083,000. Man Group plc owned about 0.17% of Cintas at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in shares of Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 108 shares during the period. Sivia Capital Partners LLC grew its holdings in Cintas by 42.3% during the second quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 428 shares during the period. Gamco Investors INC. ET AL bought a new stake in Cintas in the second quarter valued at approximately $625,000. Treasurer of the State of North Carolina increased its stake in Cintas by 20.3% in the second quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after purchasing an additional 35,781 shares in the last quarter. Finally, Ieq Capital LLC raised its holdings in Cintas by 50.2% in the second quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares during the period. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTAS. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 price target on shares of Cintas in a report on Thursday, July 16th. Robert W. Baird raised their price objective on Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $250.00 target price (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. Truist Financial decreased their target price on Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research note on Monday, June 15th. Finally, UBS Group restated a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $212.31.

Cintas Stock Performance

Shares of CTAS opened at $204.76 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.43. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The firm’s 50 day moving average price is $192.37 and its two-hundred day moving average price is $185.24. The firm 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.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. On average, analysts forecast that Cintas Corporation will post 5.49 EPS for the current fiscal year.

Cintas Increases Dividend

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

About Cintas

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.