Cintas Corporation $CTAS Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH reduced its holdings in Cintas Corporation by 0.5%, now owning 377,763 shares valued at approximately $77.47 million.
• Cintas recently declared an increase in its quarterly dividend from $0.39 to $0.45 per share, with an annual yield of 0.8%.
• The company reported a net margin of 17.53% and earnings per share (EPS) of $1.09, exceeding analysts' expectations for the quarter.

Erste Asset Management GmbH lessened its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,763 shares of the business services provider's stock after selling 2,007 shares during the period. Cintas comprises about 1.0% of Erste Asset Management GmbH's investment portfolio, making the stock its 22nd largest position. Erste Asset Management GmbH owned approximately 0.09% of Cintas worth $77,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CTAS. Nuveen LLC bought a new stake in shares of Cintas in the first quarter worth $1,877,760,000. GAMMA Investing LLC increased its stake in shares of Cintas by 19,644.3% in the first quarter. GAMMA Investing LLC now owns 2,263,091 shares of the business services provider's stock worth $465,133,000 after buying an additional 2,251,629 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after buying an additional 491,307 shares during the last quarter. Northern Trust Corp increased its stake in shares of Cintas by 13.1% in the fourth quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after buying an additional 472,069 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Cintas by 26.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after buying an additional 468,950 shares during the last quarter. Institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. The Goldman Sachs Group lifted their price target on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. 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 objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $224.54.

Cintas Stock Performance

Cintas stock traded down $0.52 during mid-day trading on Friday, reaching $215.59. The company's stock had a trading volume of 1,448,772 shares, compared to its average volume of 1,356,395. The firm has a market cap of $86.88 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 3.72 and a beta of 1.03. The business has a 50 day moving average price of $220.16 and a 200-day moving average price of $212.63. 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 twelve month low of $180.78 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the company posted $3.99 earnings per share. 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. Sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. Cintas's dividend payout ratio is presently 40.82%.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction on 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 approximately $137,557,080.80. This trade represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

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.