MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 2,566 Shares of Cintas Corporation $CTAS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Cintas Corporation by 0.8% during Q1, now owning 303,879 shares worth approximately $62.45 million after selling 2,566 shares.
• Cintas Corporation reported Q2 earnings with earnings per share of $1.09, exceeding the consensus estimate of $1.07, and had a revenue of $2.67 billion, up 8.0% from the previous year.
• The company recently announced an increase in its quarterly dividend to $0.45, with a yield of 0.9%, reflecting a boost from its previous dividend of $0.39.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,879 shares of the business services provider's stock after selling 2,566 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.08% of Cintas worth $62,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CTAS. WPG Advisers LLC bought a new position in shares of Cintas during the 1st quarter valued at $27,000. Saudi Central Bank acquired a new position in Cintas during the first quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new position in shares of Cintas in the first quarter worth about $41,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in 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 valued at $43,000 after buying an additional 181 shares during the last quarter. Finally, Washington Trust Advisors Inc. bought a new position in Cintas in the 1st quarter worth approximately $46,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of Cintas stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer owned 622,712 shares in the company, valued at approximately $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction on 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 sale, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. This represents a 18.81% 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CTAS shares. JPMorgan Chase & Co. began coverage on shares of Cintas in a research report on Monday, July 14th. They issued an "overweight" rating and a $239.00 price objective for the company. The Goldman Sachs Group upped their target price on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their price objective on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Robert W. Baird boosted their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, UBS Group lifted their target price on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Cintas presently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Trading Down 0.4%

CTAS stock traded down $0.71 on Tuesday, reaching $202.07. The company's stock had a trading volume of 1,889,697 shares, compared to its average volume of 1,821,774. The business has a fifty day simple moving average of $217.38 and a two-hundred day simple moving average of $212.96. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The firm has a market cap of $81.43 billion, a PE ratio of 45.82, a PEG ratio of 3.50 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.

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

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. This is an increase from Cintas's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Cintas's dividend payout ratio is 40.82%.

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.