Amundi Trims Stock Holdings in Cintas Corporation $CTAS

Key Points

• Amundi reduced its stake in Cintas Corporation by 1.8%, owning 1,816,474 shares worth approximately $372,105,000 after selling 32,696 shares in the first quarter.
• Cintas recently increased its quarterly dividend from $0.39 to $0.45 per share, reflecting a $1.80 annual dividend and a yield of 0.9%.
• Cintas reported a net income margin of 17.53% and quarterly revenue of $2.67 billion, surpassing analysts’ expectations and demonstrating an 8% year-over-year increase.

Amundi lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,816,474 shares of the business services provider's stock after selling 32,696 shares during the quarter. Amundi owned 0.45% of Cintas worth $372,105,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WPG Advisers LLC purchased a new position in shares of Cintas in the 1st quarter valued at about $27,000. Saudi Central Bank purchased a new position in shares of Cintas in the 1st quarter valued at about $29,000. Stone House Investment Management LLC purchased a new position in shares of Cintas in the 1st quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Cintas by 646.4% during the 1st 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 in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Cintas during the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 63.46% of the company's stock.

Cintas Stock Performance

Shares of NASDAQ:CTAS traded down $2.34 during trading on Friday, reaching $204.50. The company had a trading volume of 1,413,719 shares, compared to its average volume of 1,760,061. The firm has a market capitalization of $82.41 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01. 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 stock's fifty day moving average price is $217.78 and its 200 day moving average price is $212.89. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24.

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

Cintas Increases Dividend

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

Analyst Upgrades and Downgrades

CTAS has been the topic of several research analyst reports. UBS Group raised their target price on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of Cintas in a research report on Thursday, August 21st. The Goldman Sachs Group raised their target price on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Finally, Robert W. Baird raised their target price on Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research 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 given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Cintas has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Buying and Selling

In related news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the transaction, the chief executive officer owned 622,712 shares of the company's stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director directly 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 disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

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.