Nippon Life Global Investors Americas Inc. Sells 7,320 Shares of Cintas Corporation $CTAS

Key Points

• Nippon Life Global Investors Americas Inc. reduced its stake in Cintas Corporation by 8.7%, bringing its total holdings to 77,240 shares valued at approximately $15.9 million.
• Cintas announced a quarterly dividend of $0.45 per share, an increase from its previous dividend of $0.39, reflecting a yield of 0.9% based on an annualized payout.
• Analysts have varied ratings on Cintas, with targets ranging from $220 to $255, indicating a **generally positive outlook** for the stock amidst strong performance metrics, such as a revenue increase of 8% year-over-year.

Nippon Life Global Investors Americas Inc. cut its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,240 shares of the business services provider's stock after selling 7,320 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Cintas were worth $15,875,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CTAS. WPG Advisers LLC purchased a new position in Cintas during the first quarter valued at $27,000. Saudi Central Bank bought a new stake in Cintas during the first quarter valued at about $29,000. Stone House Investment Management LLC bought a new stake in Cintas during the first quarter valued at about $41,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Cintas by 646.4% during 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 purchasing an additional 181 shares during the period. Finally, Washington Trust Advisors Inc. bought a new stake in Cintas during the first quarter valued at about $46,000. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Price Performance

CTAS stock traded down $0.71 during trading on Tuesday, reaching $202.07. The company's stock had a trading volume of 1,889,697 shares, compared to its average volume of 1,719,682. The company has a market capitalization of $81.43 billion, a P/E ratio of 45.82, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01. The company's fifty day moving average is $217.38 and its 200-day moving average is $212.96. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 1 year low of $180.78 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 41.21% and a net margin of 17.53%.The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Cintas's dividend payout ratio (DPR) is 40.82%.

Insider Activity at Cintas

In related news, 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 transaction, the chief executive officer owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the transaction, the director directly owned 21,945 shares of the company's stock, valued at approximately $4,904,049.15. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target for the company. Morgan Stanley boosted their price target on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Robert W. Baird boosted their price target on 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 Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of "Hold" and an average target price of $224.54.

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.