Alliancebernstein L.P. Grows Stake in Cintas Corporation $CTAS

Key Points

• Alliancebernstein L.P. increased its stake in Cintas Corporation by 3.7%, owning 385,773 shares valued at $79.29 million as of the latest SEC filing.
• Cintas reported a net margin of 17.53% and a revenue increase of 8.0% year-over-year, with earnings per share of $1.09, exceeding estimates.
• The company announced a dividend increase to $0.45 per share, reflecting a 0.9% yield, with the payment scheduled for September 15th.

Alliancebernstein L.P. lifted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,773 shares of the business services provider's stock after purchasing an additional 13,850 shares during the period. Alliancebernstein L.P. owned about 0.10% of Cintas worth $79,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CTAS. Nuveen LLC purchased a new stake in shares of Cintas during the first quarter worth about $1,877,760,000. GAMMA Investing LLC increased its stake in shares of Cintas by 19,644.3% during the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after purchasing an additional 2,251,629 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Cintas by 169.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,985 shares of the business services provider's stock worth $187,235,000 after purchasing an additional 573,151 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after purchasing an additional 491,307 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cintas by 20.1% during the first quarter. JPMorgan Chase & Co. now owns 2,585,024 shares of the business services provider's stock worth $531,300,000 after purchasing an additional 432,980 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $204.50 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. The firm has a market capitalization of $82.41 billion, a price-to-earnings ratio of 46.37, a PEG ratio of 3.53 and a beta of 1.01. The company's 50-day moving average is $217.78 and its two-hundred day moving average is $212.93. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Insider Transactions at Cintas

In related news, Director Martin Mucci acquired 1,200 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director owned 2,621 shares in the company, valued at $583,303.55. The trade was a 84.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Analysts Set New Price Targets

CTAS has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Robert W. Baird upped their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research note on Thursday, August 21st. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. initiated coverage on shares of Cintas in a research note on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Cintas presently has an average rating of "Hold" and a consensus target price of $224.54.

About Cintas

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.

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