Fred Alger Management LLC Raises Holdings in Cintas Corporation $CTAS

Key Points

• Fred Alger Management LLC increased its stake in Cintas Corporation (NASDAQ:CTAS) by 2,906%, now owning 36,312 shares valued at approximately $7.46 million.
• Cintas recently announced a dividend increase, raising its quarterly payout from $0.39 to $0.45, resulting in an annualized dividend yield of 0.9%.
• The company reported earnings per share of $1.09 for the last quarter, surpassing analyst expectations, and has set guidance for FY 2026 at 4.710-4.85 EPS.

Fred Alger Management LLC lifted its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2,906.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,312 shares of the business services provider's stock after acquiring an additional 35,104 shares during the period. Fred Alger Management LLC's holdings in Cintas were worth $7,463,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CTAS. Kestra Investment Management LLC increased its position in Cintas by 655.9% during the first quarter. Kestra Investment Management LLC now owns 2,298 shares of the business services provider's stock worth $472,000 after acquiring an additional 1,994 shares during the period. Resources Management Corp CT ADV acquired a new position in Cintas during the 1st quarter worth approximately $41,000. Jones Financial Companies Lllp boosted its holdings in shares of Cintas by 800.8% in the 1st quarter. Jones Financial Companies Lllp now owns 171,637 shares of the business services provider's stock valued at $35,277,000 after buying an additional 152,583 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Cintas by 40.9% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 3,490 shares of the business services provider's stock worth $717,000 after buying an additional 1,013 shares during the period. Finally, UniSuper Management Pty Ltd grew its position in Cintas by 4.5% in the first quarter. UniSuper Management Pty Ltd now owns 25,616 shares of the business services provider's stock valued at $5,265,000 after acquiring an additional 1,100 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Trading Down 1.0%

CTAS stock traded down $2.13 during midday trading on Friday, reaching $202.37. 1,371,284 shares of the company traded hands, compared to its average volume of 1,933,127. The firm has a market capitalization of $81.55 billion, a price-to-earnings ratio of 45.89, a P/E/G ratio of 3.53 and a beta of 1.01. The business has a 50 day moving average of $216.03 and a 200-day moving average of $212.85. 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.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) 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 company had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the firm earned $3.99 earnings per share. Cintas's revenue was up 8.0% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, sell-side analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The firm also recently announced 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. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Cintas's payout ratio is 40.82%.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the sale, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total value of $3,821,790.90. Following the transaction, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. This trade represents 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CTAS shares. Royal Bank Of Canada reissued a "sector perform" rating and issued a $240.00 price target on shares of Cintas in a research note on Thursday, August 21st. Robert W. Baird raised their price objective 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 raised their price target for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Morgan Stanley lifted their price objective on Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, UBS Group raised their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cintas currently has an average rating of "Hold" and a consensus 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.