Clark Capital Management Group Inc. Trims Stock Position in Cintas Corporation $CTAS

Key Points

• Clark Capital Management Group Inc. reduced its holdings in Cintas Corporation by 1.2%, owning approximately $45.19 million worth of shares as of the last reporting period.
• Several institutional investors have entered new positions in Cintas, reflecting strong interest, with institutional ownership now at 63.46% of the company's stock.
• Cintas recently announced a quarterly dividend increase to $0.45 from the previous $0.39, demonstrating a commitment to returning value to shareholders.

Clark Capital Management Group Inc. lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,879 shares of the business services provider's stock after selling 2,634 shares during the period. Clark Capital Management Group Inc. owned 0.05% of Cintas worth $45,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cintas by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after purchasing an additional 491,307 shares during the last quarter. Nuveen LLC bought a new position in shares of Cintas during the 1st quarter valued at about $1,877,760,000. Northern Trust Corp raised its stake in Cintas by 0.7% during the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock valued at $841,749,000 after purchasing an additional 28,469 shares in the last quarter. Royal Bank of Canada raised its stake in Cintas by 3.3% during the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after purchasing an additional 115,268 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Cintas by 11.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock valued at $514,875,000 after purchasing an additional 295,226 shares in the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CTAS. Morgan Stanley upped their price target on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. JPMorgan Chase & Co. began coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. The Goldman Sachs Group increased their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a report on Thursday, August 21st. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $224.54.

Insider Transactions at Cintas

In other news, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total value of $1,136,121.48. Following the transaction, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The stock was bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Company insiders own 15.00% of the company's stock.

Cintas Trading Down 1.1%

Cintas stock traded down $2.34 during midday trading on Friday, reaching $204.50. The stock had a trading volume of 1,413,719 shares, compared to its average volume of 1,760,061. 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 52-week low of $180.78 and a 52-week high of $229.24. The firm has a market cap of $82.41 billion, a price-to-earnings ratio of 46.37, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01. The company has a fifty day moving average of $217.78 and a 200 day moving average of $212.93.

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 analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the company posted $3.99 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently declared 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. The ex-dividend date is Friday, August 15th. This is a boost 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 currently 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.