Cintas Corporation $CTAS Shares Acquired by Allstate Corp

Key Points

• Allstate Corp increased its holdings in Cintas Corporation by 17.8% during Q1, owning a total of 12,387 shares valued at approximately $2.55 million.
• Cintas recently announced an increase in its quarterly dividend from $0.39 to $0.45, representing a 0.8% yield for shareholders.
• Several analysts have raised their price targets for Cintas, with UBS Group setting a new target of $255.00 and JPMorgan Chase issuing an "overweight" rating.

Allstate Corp raised its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,387 shares of the business services provider's stock after acquiring an additional 1,873 shares during the period. Allstate Corp's holdings in Cintas were worth $2,546,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CTAS. Stone House Investment Management LLC acquired a new stake in shares of Cintas during the first quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Cintas by 646.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after acquiring an additional 181 shares during the period. Washington Trust Advisors Inc. acquired a new position in shares of Cintas in the first quarter worth about $46,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Cintas during the 1st quarter worth about $46,000. Finally, Wellington Shields & Co. LLC acquired a new position in shares of Cintas during the 1st quarter worth about $51,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 2.8%

Shares of Cintas stock traded down $6.07 during mid-day trading on Thursday, hitting $207.13. The stock had a trading volume of 690,493 shares, compared to its average volume of 1,697,969. The firm has a 50-day moving average of $219.64 and a two-hundred day moving average of $212.76. 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 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm has a market cap of $83.47 billion, a P/E ratio of 46.96, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly 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. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the company posted $3.99 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Sell-side analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTAS shares. 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 research report on Friday, July 18th. Morgan Stanley upped their price target on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective for the company. Robert W. Baird increased their price objective on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of Cintas in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cintas has a consensus rating of "Hold" and an average target price of $224.54.

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.