Cintas Corporation $CTAS Shares Sold by Meiji Yasuda Life Insurance Co

Key Points

• Meiji Yasuda Life Insurance Co has reduced its stake in Cintas Corporation by 36.2%, now holding 3,898 shares valued at $801,000.
• Cintas reported a quarterly earnings of $1.09 per share, surpassing analysts' expectations, with revenue reaching $2.67 billion, up 8.0% year-over-year.
• The company recently announced a dividend increase to $0.45 per share, up from $0.39, reflecting a commitment to returning capital to shareholders.

Meiji Yasuda Life Insurance Co reduced its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 36.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,898 shares of the business services provider's stock after selling 2,211 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Cintas were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. WPG Advisers LLC purchased a new position in shares of Cintas in the 1st quarter worth $27,000. Saudi Central Bank purchased a new position in shares of Cintas in the 1st quarter worth $29,000. Stone House Investment Management LLC purchased a new position in shares of Cintas in the 1st quarter worth $41,000. Resources Management Corp CT ADV purchased a new position in shares of Cintas in the 1st quarter worth $41,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after buying an additional 181 shares during the period. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTAS has been the topic of several research reports. Morgan Stanley raised their price objective on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. JPMorgan Chase & Co. initiated coverage on Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective on the stock. Robert W. Baird raised their price objective on Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, The Goldman Sachs Group raised their price objective on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Transactions at Cintas

In related news, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 622,712 shares in the company, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total value of $1,136,121.48. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 15.00% of the company's stock.

Cintas Stock Down 1.0%

Shares of NASDAQ CTAS traded down $2.13 during midday trading on Friday, reaching $202.37. 1,371,284 shares of the company's stock were exchanged, compared to its average volume of 1,931,755. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The stock has a market capitalization of $81.55 billion, a PE ratio of 45.89, a price-to-earnings-growth ratio of 3.49 and a beta of 1.01. 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 business's fifty day moving average price is $216.03 and its two-hundred day moving average price is $212.92.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%.The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned $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. Analysts forecast that Cintas Corporation will post 4.31 EPS for the current 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. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Cintas's dividend 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.