Palmer Knight Co Lowers Stake in Cintas Corporation $CTAS

Palmer Knight Co lowered its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 17.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,110 shares of the business services provider’s stock after selling 8,104 shares during the quarter. Cintas accounts for 3.5% of Palmer Knight Co’s investment portfolio, making the stock its 13th biggest position. Palmer Knight Co’s holdings in Cintas were worth $8,271,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Cintas during the 2nd quarter valued at $33,333,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Cintas during the 2nd quarter valued at $506,000. Quotient Wealth Partners LLC raised its position in shares of Cintas by 11.1% during the 2nd quarter. Quotient Wealth Partners LLC now owns 2,029 shares of the business services provider’s stock valued at $452,000 after buying an additional 202 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of Cintas during the 2nd quarter valued at $747,000. Finally, Nicholson Wealth Management Group LLC raised its position in shares of Cintas by 11.0% during the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,423 shares of the business services provider’s stock valued at $1,431,000 after buying an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Price Performance

Shares of Cintas stock opened at $188.10 on Friday. The firm has a market cap of $75.59 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 3.25 and a beta of 1.01. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $204.61 and its two-hundred day simple moving average is $212.43.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.01. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, equities analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a $0.45 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is 40.82%.

Insiders Place Their Bets

In related news, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares of the company’s stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares of the company’s stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on CTAS shares. Robert W. Baird increased their target price on shares of Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Morgan Stanley increased their target price on shares of Cintas from $213.00 to $220.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Royal Bank Of Canada reduced their target price on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a report on Thursday, September 25th. JPMorgan Chase & Co. reduced their target price on shares of Cintas from $246.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, UBS Group increased their target price on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $222.09.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.