Kestra Investment Management LLC Buys 1,994 Shares of Cintas Corporation $CTAS

Key Points

• Kestra Investment Management LLC increased its stake in Cintas Corporation by 655.9% in the first quarter, acquiring a total of 2,298 shares valued at approximately $472,000.
• Cintas announced a quarterly dividend increase from $0.39 to $0.45, representing a yield of 0.9%, with the dividend payments scheduled for September 15th.
• A range of analysts have recently raised their price targets for Cintas, with Goldman Sachs setting a new target of $257.00 and UBS Group a target of $255.00, reflecting positive sentiment toward the stock.

Kestra Investment Management LLC grew its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 655.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,298 shares of the business services provider's stock after purchasing an additional 1,994 shares during the period. Kestra Investment Management LLC's holdings in Cintas were worth $472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in 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 buying an additional 491,307 shares during the last quarter. Nuveen LLC bought a new stake in shares of Cintas in the first quarter valued at about $1,877,760,000. Northern Trust Corp lifted its stake in shares of Cintas by 0.7% in the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock valued at $841,749,000 after buying an additional 28,469 shares during the period. Royal Bank of Canada lifted its stake in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after buying an additional 115,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Cintas by 11.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock valued at $514,875,000 after buying an additional 295,226 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the subject of several research reports. Morgan Stanley increased their target price 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 restated a "sector perform" rating and set a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. Robert W. Baird raised their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. The Goldman Sachs Group raised their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Finally, UBS Group raised their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $224.54.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the transaction, the director 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Cintas Trading Down 1.0%

CTAS traded down $2.13 during trading on Friday, reaching $202.37. 1,371,284 shares of the company's stock were exchanged, compared to its average volume of 1,931,755. The company's fifty day moving average price is $216.03 and its 200-day moving average price is $212.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The firm has a market capitalization of $81.55 billion, a PE ratio of 45.89, a P/E/G ratio of 3.49 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the previous year, the business earned $3.99 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities analysts forecast 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. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.9%. Cintas's dividend payout ratio (DPR) is presently 40.82%.

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.