Cintas Corporation $CTAS Shares Purchased by Northern Trust Corp

Key Points

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Northern Trust Corp grew its stake in Cintas Corporation (NASDAQ:CTAS - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,095,506 shares of the business services provider's stock after purchasing an additional 28,469 shares during the period. Northern Trust Corp owned approximately 1.01% of Cintas worth $841,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock valued at $7,781,223,000 after purchasing an additional 491,307 shares during the period. Nuveen LLC purchased a new stake in shares of Cintas in the first quarter valued at approximately $1,877,760,000. Royal Bank of Canada boosted its stake in shares of Cintas by 3.3% in the fourth quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock valued at $667,919,000 after buying an additional 115,268 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Cintas by 11.7% in the fourth 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 valued at $514,875,000 after buying an additional 295,226 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Cintas by 20.1% in the first quarter. JPMorgan Chase & Co. now owns 2,585,024 shares of the business services provider's stock valued at $531,300,000 after buying an additional 432,980 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of a number of analyst reports. UBS Group lifted their price target on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target on the stock. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their price target on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given 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 currently has a consensus rating of "Hold" and a consensus target price of $224.54.

Insider Activity

In related news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on 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 represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronald W. Tysoe sold 5,084 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were 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. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Price Performance

Shares of NASDAQ:CTAS traded down $0.52 on Friday, hitting $215.59. The company had a trading volume of 1,448,772 shares, compared to its average volume of 1,375,107. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The business has a 50 day moving average of $220.16 and a 200 day moving average of $212.69. The company has a market cap of $86.88 billion, a PE ratio of 48.89, a PEG 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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $2.63 billion. During the same period in the prior year, the business earned $3.99 earnings per share. The business'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, equities analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.45 dividend. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio (DPR) 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.