Comerica Bank Buys 8,215 Shares of Cintas Corporation $CTAS

Key Points

• Comerica Bank increased its stake in Cintas Corporation by 9.8%, acquiring an additional 8,215 shares in the first quarter, bringing its total holdings to approximately $18.9 million.
• Cintas Corporation announced a quarterly dividend of $0.45 per share, marking an increase from the previous dividend of $0.39, with a payout date of September 15.
• Analysts have raised their price targets for Cintas, with Goldman Sachs increasing theirs to $257.00, while the stock has a consensus rating of "Hold" and an average target price of around $224.54.

Comerica Bank boosted its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,991 shares of the business services provider's stock after buying an additional 8,215 shares during the period. Comerica Bank's holdings in Cintas were worth $18,907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Cintas by 9.3% during the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after purchasing an additional 108 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Cintas by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after purchasing an additional 3,504 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Cintas during the fourth quarter valued at approximately $215,000. Kovitz Investment Group Partners LLC lifted its holdings in shares of Cintas by 82.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 12,926 shares of the business services provider's stock valued at $2,362,000 after purchasing an additional 5,857 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Cintas by 6.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 5,709 shares of the business services provider's stock valued at $1,043,000 after purchasing an additional 330 shares during the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target for the company. UBS Group raised their price target on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group raised their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price target on shares of Cintas in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cintas currently has an average rating of "Hold" and an average price target of $224.54.

Insider Buying and Selling

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 shares were bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,136,121.48. Following the sale, the director owned 21,945 shares in the company, valued at $4,904,049.15. This represents a 18.81% 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 insiders.

Cintas Stock Performance

NASDAQ:CTAS traded down $4.88 during trading hours on Thursday, reaching $208.32. The company had a trading volume of 2,325,151 shares, compared to its average volume of 1,646,390. The company has a current ratio of 2.09, a quick ratio of 1.82 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 $83.95 billion, a price-to-earnings ratio of 47.24, a PEG ratio of 3.68 and a beta of 1.03. The firm's 50 day moving average price is $219.39 and its 200-day moving average price is $212.79.

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 (EPS) for the quarter, beating 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 firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the firm posted $3.99 EPS. The company'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. On average, analysts forecast 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. Investors of record on Friday, August 15th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.9%. This is an increase from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is currently 40.82%.

Cintas 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.