Knollwood Investment Advisory LLC Has $4.50 Million Position in Cintas Corporation $CTAS

Key Points

• Knollwood Investment Advisory LLC reduced its stake in Cintas Corporation by 12.4% to 21,896 shares, equating to holdings valued at $4.5 million at the end of the first quarter.
• Cintas reported a net margin of 17.53% and a return on equity of 41.21%, with quarterly earnings of $1.09 per share, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.45 per share, up from the previous $0.39, representing an annual yield of 0.8%.

Knollwood Investment Advisory LLC decreased its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,896 shares of the business services provider's stock after selling 3,100 shares during the period. Knollwood Investment Advisory LLC's holdings in Cintas were worth $4,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cintas by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after acquiring an additional 491,307 shares during the last quarter. Nuveen LLC acquired a new position in Cintas during the 1st quarter worth $1,877,760,000. Northern Trust Corp lifted its position in Cintas by 0.7% during the 1st quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after acquiring an additional 28,469 shares during the last quarter. Royal Bank of Canada lifted its position in Cintas by 3.3% during the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after acquiring an additional 115,268 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cintas by 11.7% during the 4th 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 worth $514,875,000 after acquiring an additional 295,226 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction that occurred 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 sale, the director directly owned 21,945 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly 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 owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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 objective for the company. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. The Goldman Sachs Group upped their price objective 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. Morgan Stanley upped their price objective on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Robert W. Baird upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $224.54.

Cintas Price Performance

Cintas stock traded down $0.52 during trading hours on Friday, hitting $215.59. 1,448,772 shares of the stock were exchanged, compared to its average volume of 1,356,395. 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 stock has a market capitalization of $86.88 billion, a P/E ratio of 48.89, a P/E/G ratio of 3.72 and a beta of 1.03. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The business's 50-day moving average is $220.16 and its two-hundred day moving average is $212.63.

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 for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Equities research analysts expect that Cintas Corporation will post 4.31 EPS 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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. This is an increase from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. 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.