30,394 Shares in Cintas Corporation $CTAS Purchased by Jag Capital Management LLC

Key Points

• Jag Capital Management LLC acquired 30,394 shares of Cintas Corporation, valued at approximately $6.77 million, during the second quarter.
• Several analysts have recently adjusted their price targets for Cintas, with Wells Fargo reducing it from $221 to $218, while UBS raised it from $240 to $255, reflecting mixed outlooks on the stock.
• Cintas recently announced a quarterly dividend increase from $0.39 to $0.45 per share, signifying a positive change in its financial strategy.

Jag Capital Management LLC acquired a new stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,394 shares of the business services provider's stock, valued at approximately $6,774,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Alpha Financial Partners LLC boosted its stake in Cintas by 2.9% during the second quarter. Alpha Financial Partners LLC now owns 1,602 shares of the business services provider's stock worth $357,000 after buying an additional 45 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake in shares of Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after purchasing an additional 47 shares during the period. Oarsman Capital Inc. boosted its stake in shares of Cintas by 3.9% during the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after purchasing an additional 49 shares during the period. Independent Wealth Network Inc. grew its holdings in Cintas by 4.8% during the 2nd quarter. Independent Wealth Network Inc. now owns 1,077 shares of the business services provider's stock valued at $240,000 after purchasing an additional 49 shares during the last quarter. Finally, PDS Planning Inc grew its holdings in Cintas by 2.0% during the 2nd quarter. PDS Planning Inc now owns 2,508 shares of the business services provider's stock valued at $559,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTAS shares. Wells Fargo & Company dropped their target price on Cintas from $221.00 to $218.00 and set an "equal weight" rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. decreased their price target on Cintas from $246.00 to $230.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Robert W. Baird upped their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Morgan Stanley lifted their target price on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, UBS Group upped their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Cintas presently has an average rating of "Hold" and an average price target of $222.09.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction on 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 directly owned 21,945 shares in the company, valued at $4,904,049.15. This represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Todd M. Schneider sold 17,301 shares of the firm's 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 sale, the chief executive officer directly owned 622,712 shares in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by insiders.

Cintas Price Performance

Shares of CTAS stock opened at $187.94 on Tuesday. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $207.59 and a two-hundred day simple moving average of $213.04. The stock has a market capitalization of $75.53 billion, a price-to-earnings ratio of 42.62, a P/E/G ratio of 3.25 and a beta of 1.01.

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

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas's dividend payout ratio is 40.82%.

Cintas 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.