APG Asset Management N.V. Sells 20,896 Shares of Cintas Corporation $CTAS

Key Points

• APG Asset Management N.V. has reduced its stake in Cintas Corporation by 7.1%, owning approximately $52 million worth of shares after selling nearly 21,000 shares in the first quarter.
• Goldman Sachs raised its price target for Cintas shares from $233 to $257, while other analysts have provided a range of ratings from Strong Buy to Sell.
• Cintas recently announced an increase in its quarterly dividend to $0.45, reflecting a positive change from the previous dividend of $0.39.

APG Asset Management N.V. lowered its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,306 shares of the business services provider's stock after selling 20,896 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Cintas worth $52,002,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CTAS. Stone House Investment Management LLC acquired a new position in Cintas in the 1st quarter valued at $41,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 valued at $43,000 after acquiring an additional 181 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in Cintas during the 1st quarter worth approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in Cintas during the 1st quarter worth approximately $46,000. Finally, Wellington Shields & Co. LLC purchased a new position in Cintas in the 1st quarter worth approximately $51,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the subject of several research analyst reports. UBS Group increased their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of Cintas in a research report on Thursday, August 21st. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. started coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Trading Down 2.3%

Shares of NASDAQ:CTAS traded down $4.88 during midday trading on Thursday, reaching $208.32. The company had a trading volume of 2,200,230 shares, compared to its average volume of 1,703,106. 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 1-year low of $180.78 and a 1-year high of $229.24. The firm has a market cap of $83.95 billion, a price-to-earnings ratio of 47.24, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. The company has a fifty day simple moving average of $219.64 and a two-hundred day simple moving average of $212.76.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 41.21% and a net margin of 17.53%.The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the company posted $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. Research analysts predict 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 paid a $0.45 dividend. 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 a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's dividend payout ratio (DPR) is 40.82%.

Insider Activity at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the sale, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martin Mucci bought 1,200 shares of the stock in a transaction on Monday, July 21st. The stock was 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 in the company, valued at approximately $583,303.55. The trade was 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 owned by company insiders.

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.