Meiji Yasuda Asset Management Co Ltd. Has $3.72 Million Stock Holdings in Cintas Corporation $CTAS

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Cintas Corporation by 25% during Q1, selling 6,052 shares and retaining 18,120 shares valued at $3.72 million.
• Cintas reported strong quarterly earnings, with $1.09 EPS, surpassing estimates, and revenue of $2.67 billion, marking an 8% increase from the previous year.
• The company announced a quarterly dividend increase to $0.45 per share, up from the previous $0.39, effective September 15th, indicating a positive outlook for investors.

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,120 shares of the business services provider's stock after selling 6,052 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Cintas were worth $3,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Cintas by 3.9% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after buying an additional 47 shares in the last quarter. Oarsman Capital Inc. boosted its position in Cintas by 3.9% during the 1st quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after acquiring an additional 49 shares during the period. MJP Associates Inc. ADV boosted its position in Cintas by 2.1% during the 4th quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after acquiring an additional 50 shares during the period. Truvestments Capital LLC grew its stake in Cintas by 17.4% during the 1st quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock valued at $69,000 after acquiring an additional 50 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Cintas by 4.1% in the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

CTAS has been the subject of several recent research reports. UBS Group increased their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. The Goldman Sachs Group raised their price target on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Robert W. Baird lifted their price target on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Morgan Stanley boosted their target price on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set 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 assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Buying and Selling at Cintas

In other news, Director Martin Mucci bought 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Stock Performance

Cintas stock traded down $2.13 during mid-day trading on Friday, reaching $202.37. The company had a trading volume of 1,371,284 shares, compared to its average volume of 1,933,127. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The firm has a market cap of $81.55 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 3.53 and a beta of 1.01. The company 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.

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 (EPS) for the quarter, topping 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 for 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 business'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. On average, sell-side 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. Investors of record on Friday, August 15th will be paid 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 a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is presently 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.