MetLife Investment Management LLC Reduces Stake in Cintas Corporation $CTAS

Key Points

• MetLife Investment Management LLC reduced its stake in Cintas Corporation by 1.7%, holding 103,424 shares valued at $21.26 million after selling 1,825 shares in the first quarter.
• Several hedge funds have adjusted their Cintas holdings, with Pinnacle Wealth Management Advisory Group increasing its position by 3.9% in the same quarter, indicating a trend of institutional investment in the company.
• Cintas recently announced a quarterly dividend increase from $0.39 to $0.45, reflecting a commitment to returning value to shareholders.

MetLife Investment Management LLC cut its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,424 shares of the business services provider's stock after selling 1,825 shares during the quarter. MetLife Investment Management LLC's holdings in Cintas were worth $21,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC grew its position in Cintas by 3.9% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock valued at $258,000 after purchasing an additional 47 shares during the last quarter. MJP Associates Inc. ADV grew 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 valued at $441,000 after purchasing an additional 50 shares during the last quarter. Kathmere Capital Management LLC grew its position in Cintas by 4.1% during the 1st quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock valued at $266,000 after purchasing an additional 51 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Cintas by 4.1% during the 1st quarter. Pinnacle Associates Ltd. now owns 1,291 shares of the business services provider's stock valued at $265,000 after purchasing an additional 51 shares during the last quarter. Finally, Johnson Financial Group Inc. grew its position in Cintas by 7.7% during the 4th quarter. Johnson Financial Group Inc. now owns 728 shares of the business services provider's stock valued at $146,000 after purchasing an additional 52 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the firm's 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 owned 21,945 shares in the company, valued at approximately $4,904,049.15. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction on Monday, July 21st. The shares were purchased 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 in the company, valued at $583,303.55. This trade represents a 84.45% increase in their position. The disclosure for this purchase can be found here. 15.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on CTAS. Redburn Atlantic downgraded shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective on the stock. in a research report on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Robert W. Baird raised their price target on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $240.00 price target on shares of Cintas in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $224.54.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $215.59 on Monday. The firm's 50 day moving average price is $220.16 and its 200-day moving average price is $212.69. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. 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 stock has a market capitalization of $86.88 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03.

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. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm 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 business earned $3.99 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. 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 year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.45 dividend. 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 annualized dividend and a dividend yield of 0.8%. Cintas's dividend payout ratio (DPR) is currently 40.82%.

Cintas Company 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.

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