Royal Bank of Canada Sells 233,900 Shares of Cintas Corporation $CTAS

Key Points

• Royal Bank of Canada has reduced its stake in Cintas Corporation by 6.4%, owning approximately $703 million worth of the company's stock after selling 233,900 shares.
• Cintas announced a quarterly dividend increase to $0.45, resulting in a 0.9% yield, with the next payment scheduled for September 15th.
• Analyst ratings for Cintas vary, with one analyst giving a Strong Buy rating and others issuing a mix of Buy, Hold, and Sell ratings, averaging a Hold rating with a price target of $224.54.

Royal Bank of Canada cut its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,421,935 shares of the business services provider's stock after selling 233,900 shares during the quarter. Royal Bank of Canada owned 0.85% of Cintas worth $703,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of CTAS. WPG Advisers LLC bought a new stake in shares of Cintas in the first quarter worth about $27,000. Saudi Central Bank purchased a new position in Cintas in the 1st quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new position in shares of Cintas in the first quarter worth $41,000. E Fund Management Hong Kong Co. Ltd. lifted its position 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 valued at $43,000 after acquiring an additional 181 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in Cintas in the first quarter valued at about $46,000. Institutional investors own 63.46% of the company's stock.

Insider Transactions at Cintas

In other Cintas news, Director Martin Mucci acquired 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The stock was bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the acquisition, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction dated 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 transaction, the chief executive officer directly 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 disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTAS shares. Robert W. Baird lifted their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price objective on shares of Cintas in a research note on Thursday, August 21st. The Goldman Sachs Group boosted their target price on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Stock Performance

NASDAQ CTAS traded up $0.10 during midday trading on Wednesday, hitting $205.61. The company had a trading volume of 2,220,056 shares, compared to its average volume of 1,641,517. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The stock has a market cap of $82.86 billion, a price-to-earnings ratio of 46.62, a P/E/G ratio of 3.62 and a beta of 1.01. The firm has a fifty day simple moving average of $218.65 and a two-hundred day simple moving average of $212.92. 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 posted its quarterly 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 company had revenue of $2.67 billion for 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 quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.99 EPS. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Equities analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. 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 payout ratio 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.