Cintas Corporation $CTAS Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Cintas Corporation by 6.2%, acquiring an additional 32,774 shares, bringing their total ownership to $115,050,000.
• Cintas reported a quarterly EPS of $1.09, exceeding analysts' expectations and demonstrating an 8.0% growth in revenue year-over-year.
• The company announced an increase in its quarterly dividend from $0.39 to $0.45, reflecting a 0.8% yield for shareholders of record on August 15th.

Raymond James Financial Inc. increased its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 559,772 shares of the business services provider's stock after buying an additional 32,774 shares during the period. Raymond James Financial Inc. owned 0.14% of Cintas worth $115,050,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in shares of Cintas during the first quarter worth approximately $41,000. E Fund Management Hong Kong Co. Ltd. grew its stake in 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 purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in Cintas in the first quarter worth approximately $46,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Cintas in the 1st quarter worth $46,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Cintas in the 1st quarter worth $51,000. Institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

Cintas stock traded down $0.52 during mid-day trading on Friday, reaching $215.59. 1,448,772 shares of the company traded hands, compared to its average volume of 1,375,107. The firm's fifty day moving average is $220.16 and its two-hundred day moving average is $212.69. The company has a market capitalization of $86.88 billion, a price-to-earnings ratio of 48.89, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating 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 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 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. On average, equities research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.45 dividend. The ex-dividend date is 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 dividend yield of 0.8%. Cintas's dividend payout ratio (DPR) is 40.82%.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 approximately $4,904,049.15. The trade was a 18.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction that occurred 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 sale, the chief executive officer owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. The trade was a 2.70% 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on CTAS shares. Redburn Atlantic lowered shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. JPMorgan Chase & Co. started coverage on Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a research report on Thursday. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. One 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.