Corebridge Financial Inc. Trims Position in Cintas Corporation $CTAS

Key Points

• Corebridge Financial Inc. has reduced its holdings in Cintas Corporation by 4.2%, now owning 127,689 shares valued at approximately $26.24 million.
• Cintas recently announced an increase in its quarterly dividend from $0.39 to $0.45 per share, effective September 15th.
• The company reported a quarterly earnings per share (EPS) of $1.09, exceeding analysts' expectations, alongside an 8.0% year-over-year revenue growth to $2.67 billion.

Corebridge Financial Inc. lowered its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,689 shares of the business services provider's stock after selling 5,576 shares during the period. Corebridge Financial Inc.'s holdings in Cintas were worth $26,244,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CTAS. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Cintas by 3.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after purchasing an additional 47 shares in the last quarter. MJP Associates Inc. ADV boosted its stake in Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock valued at $441,000 after buying an additional 50 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after buying an additional 51 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in Cintas by 4.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock worth $265,000 after acquiring an additional 51 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its stake in Cintas by 7.7% in the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock worth $146,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. UBS Group increased their price objective on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. started coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. Royal Bank Of Canada reiterated a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research report on Thursday, August 21st. Finally, Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. One investment 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 given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Transactions at Cintas

In related news, CEO Todd M. Schneider sold 17,301 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $220.90, for a total value 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 trade represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction that occurred on Monday, July 21st. The stock was bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director directly owned 2,621 shares in the company, 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. Company insiders own 15.00% of the company's stock.

Cintas Trading Down 2.3%

Shares of Cintas stock traded down $4.88 during trading on Thursday, hitting $208.32. The stock had a trading volume of 2,325,151 shares, compared to its average volume of 1,646,390. The firm's fifty day simple moving average is $219.64 and its 200-day simple moving average is $212.76. The stock has a market cap of $83.95 billion, a PE ratio of 47.24, a PEG ratio of 3.68 and a beta of 1.03. 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 Corporation has a 12 month low of $180.78 and a 12 month 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, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently announced 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 boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date 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 40.82%.

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.