HFR Wealth Management LLC Reduces Position in Cintas Corporation $CTAS

Key Points

• HFR Wealth Management LLC has reduced its holdings in Cintas Corporation by 1.2%, maintaining the stock as its 2nd largest position at approximately $20.47 million.
• Analysts have set varying price targets for Cintas, with some upgrades increasing the target to as high as $255, while others suggest a target as low as $171.
• Cintas recently increased its quarterly dividend from $0.39 to $0.45 per share, reflecting a positive change and a yield of 0.8% for stockholders.

HFR Wealth Management LLC lessened its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,601 shares of the business services provider's stock after selling 1,167 shares during the period. Cintas comprises 5.0% of HFR Wealth Management LLC's holdings, making the stock its 2nd biggest holding. HFR Wealth Management LLC's holdings in Cintas were worth $20,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTAS. Algert Global LLC raised its position in Cintas by 11.6% in the first quarter. Algert Global LLC now owns 30,334 shares of the business services provider's stock valued at $6,235,000 after purchasing an additional 3,164 shares during the last quarter. George Kaiser Family Foundation bought a new position in Cintas in the first quarter valued at about $287,000. Northwest & Ethical Investments L.P. raised its position in Cintas by 42.0% in the first quarter. Northwest & Ethical Investments L.P. now owns 10,133 shares of the business services provider's stock valued at $2,083,000 after purchasing an additional 2,996 shares during the last quarter. Raymond James Financial Inc. raised its position in Cintas by 6.2% in the first quarter. Raymond James Financial Inc. now owns 559,772 shares of the business services provider's stock valued at $115,050,000 after purchasing an additional 32,774 shares during the last quarter. Finally, Progressive Investment Management Corp bought a new position in Cintas in the first quarter valued at about $1,837,000. Institutional investors own 63.46% of the company's stock.

Insider Activity

In other news, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the transaction, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd M. Schneider sold 17,301 shares of the business'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 completion of the sale, the chief executive officer directly owned 622,712 shares of the company's stock, valued at $137,557,080.80. The trade was 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTAS shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $240.00 target price on shares of Cintas in a research report on Thursday. Wells Fargo & Company upgraded 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. The Goldman Sachs Group upped their price target on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research report on Thursday, May 1st. Finally, Robert W. Baird upped their price target on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $224.54.

Cintas Trading Down 0.3%

Shares of CTAS stock traded down $0.62 during mid-day trading on Thursday, hitting $216.11. The company's stock had a trading volume of 921,495 shares, compared to its average volume of 1,681,702. The company's fifty day simple moving average is $220.44 and its 200-day simple moving average is $212.36. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a market cap of $87.09 billion, a PE ratio of 49.00, a P/E/G ratio of 3.73 and a beta of 1.03.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, equities 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a boost from Cintas's previous quarterly dividend of $0.39. 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.