Cresset Asset Management LLC Sells 32,658 Shares of Cintas Corporation $CTAS

Key Points

• Cresset Asset Management LLC has reduced its stake in Cintas Corporation by 46.4%, now holding 37,781 shares worth approximately $7.77 million.
• CEO Todd M. Schneider sold 17,301 shares at an average price of $220.90 while Director Martin Mucci bought 1,200 shares, increasing his ownership by 84.45%.
• Cintas recently announced a quarterly dividend increase to $0.45 per share, with a payout ratio of 40.82%, reflecting a positive change from the previous dividend.

Cresset Asset Management LLC trimmed its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 46.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 37,781 shares of the business services provider's stock after selling 32,658 shares during the quarter. Cresset Asset Management LLC's holdings in Cintas were worth $7,765,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CTAS. Brighton Jones LLC lifted its position in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after acquiring an additional 108 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Cintas by 0.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after acquiring an additional 3,504 shares during the period. XTX Topco Ltd bought a new stake in shares of Cintas during the 4th quarter valued at $215,000. Bridgewater Associates LP bought a new stake in shares of Cintas during the 4th quarter valued at $208,000. Finally, Jump Financial LLC lifted its position in shares of Cintas by 9.0% during the 4th quarter. Jump Financial LLC now owns 6,453 shares of the business services provider's stock valued at $1,179,000 after acquiring an additional 533 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTAS. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price for the company. in a research report on Thursday, May 1st. Royal Bank Of Canada restated a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a research report on Thursday. JPMorgan Chase & Co. assumed coverage on Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective for the company. Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Finally, UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Price Performance

CTAS traded down $0.5370 on Friday, reaching $215.5730. The stock had a trading volume of 945,195 shares, compared to its average volume of 1,676,782. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The firm has a 50-day moving average of $220.29 and a 200-day moving average of $212.45. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $86.87 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 3.74 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (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 business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the firm earned $3.99 EPS. The business's revenue for the quarter 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, sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is currently 40.82%.

Insiders Place Their Bets

In related news, Director Martin Mucci purchased 1,200 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director owned 2,621 shares in the company, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd M. Schneider sold 17,301 shares of the 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 completion of the sale, the chief executive officer directly 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 position. The disclosure for this sale can be found here. Insiders own 15.00% of the company's stock.

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.