Pacer Advisors Inc. Boosts Stock Position in Cintas Corporation $CTAS

Pacer Advisors Inc. raised its holdings in Cintas Corporation (NASDAQ:CTAS) by 8.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,390 shares of the business services provider’s stock after acquiring an additional 4,535 shares during the quarter. Pacer Advisors Inc.’s holdings in Cintas were worth $11,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nemes Rush Group LLC purchased a new stake in shares of Cintas during the fourth quarter valued at $25,000. Swiss RE Ltd. bought a new position in shares of Cintas in the fourth quarter worth about $25,000. Camelot Portfolios LLC purchased a new position in Cintas in the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Cintas in the 4th quarter worth about $26,000. Finally, Key Capital Management INC bought a new stake in Cintas during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS stock opened at $170.85 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The business has a 50-day moving average price of $173.50 and a 200 day moving average price of $183.88. The company has a market capitalization of $68.36 billion, a P/E ratio of 48.26, a PEG ratio of 2.72 and a beta of 0.94. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $226.75.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the business earned $1.13 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 15th. Cintas’s dividend payout ratio is presently 50.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTAS shares. Stifel Nicolaus lowered their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. UBS Group reaffirmed a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Truist Financial decreased their price target 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. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target for the company in a report on Wednesday, March 11th. Finally, Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cintas has a consensus rating of “Hold” and an average price target of $215.92.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.90% of the company’s stock.

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.