Ameriprise Financial Inc. Increases Position in Cintas Corporation $CTAS

Key Points

• Ameriprise Financial Inc. increased its holdings in Cintas Corporation by 17.4%, acquiring an additional 386,721 shares, bringing their total ownership to approximately $538.3 million worth of the stock.
• The company recently announced a quarterly dividend of $0.45 per share, which represents an increase from the previous $0.39, with a yield of 0.8%.
• Analysts have varying outlooks on Cintas, with price targets ranging from $171 to $257, and an average target price of $224.54, indicating mixed ratings from strong buy to sell.

Ameriprise Financial Inc. lifted its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,615,330 shares of the business services provider's stock after acquiring an additional 386,721 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.65% of Cintas worth $538,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norinchukin Bank The raised its stake in shares of Cintas by 159.4% during the first quarter. Norinchukin Bank The now owns 83,358 shares of the business services provider's stock valued at $17,133,000 after acquiring an additional 51,221 shares in the last quarter. CW Advisors LLC raised its stake in shares of Cintas by 1.1% during the first quarter. CW Advisors LLC now owns 207,306 shares of the business services provider's stock valued at $42,605,000 after acquiring an additional 2,169 shares in the last quarter. Summit Financial LLC raised its stake in shares of Cintas by 292.9% during the first quarter. Summit Financial LLC now owns 7,555 shares of the business services provider's stock valued at $1,553,000 after acquiring an additional 5,632 shares in the last quarter. United Asset Strategies Inc. raised its stake in shares of Cintas by 13.6% during the first quarter. United Asset Strategies Inc. now owns 5,796 shares of the business services provider's stock valued at $1,191,000 after acquiring an additional 696 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cintas by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,587,432 shares of the business services provider's stock valued at $531,796,000 after acquiring an additional 16,797 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Cintas Stock Down 0.2%

CTAS stock traded down $0.52 during trading on Friday, hitting $215.59. 1,448,772 shares of the company's stock traded hands, compared to its average volume of 1,375,107. The firm has a market capitalization of $86.88 billion, a P/E ratio of 48.89, a PEG ratio of 3.72 and a beta of 1.03. The business has a fifty day simple moving average of $220.16 and a two-hundred day simple moving average of $212.69. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. 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 released its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned $3.99 earnings per share. 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 anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.45 dividend. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Cintas's dividend payout ratio is presently 40.82%.

Insiders Place Their Bets

In other news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the acquisition, the director owned 2,621 shares of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas 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 transaction, the director directly owned 21,945 shares in the company, valued at $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. Corporate insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTAS. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Morgan Stanley lifted their price target 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. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, UBS Group lifted their price objective 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 research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $224.54.

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.