Rafferty Asset Management LLC Sells 8,728 Shares of Cintas Corporation $CTAS

Key Points

• Rafferty Asset Management LLC has sold 8,728 shares of Cintas Corporation, reducing its holdings by 8.7% in the first quarter, leaving them with 92,039 shares valued at approximately $18.9 million.
• Cintas recently declared a quarterly dividend of $0.45 per share, reflecting an increase from the previous dividend of $0.39, with a payout ratio of 40.82%.
• The stock's current market capitalization is $85.83 billion and analysts have set a range of target prices, with Goldman Sachs raising the target from $233.00 to $257.00 and several firms giving it a mix of buy, hold, and sell ratings.

Rafferty Asset Management LLC trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 92,039 shares of the business services provider's stock after selling 8,728 shares during the period. Rafferty Asset Management LLC's holdings in Cintas were worth $18,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crestwood Advisors Group LLC bought a new stake in Cintas in the first quarter worth $270,000. Ameriprise Financial Inc. boosted its stake in Cintas by 26.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,228,609 shares of the business services provider's stock worth $407,163,000 after purchasing an additional 468,950 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in Cintas by 3.8% during the 1st quarter. Pinnacle Financial Partners Inc now owns 60,099 shares of the business services provider's stock valued at $12,327,000 after purchasing an additional 2,191 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Cintas by 51.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 9,967 shares of the business services provider's stock valued at $2,049,000 after purchasing an additional 3,404 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in Cintas by 5.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 257,032 shares of the business services provider's stock valued at $46,960,000 after purchasing an additional 12,734 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Insider Buying and Selling at Cintas

In related news, CEO Todd M. Schneider sold 17,301 shares of the firm'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 transaction, the chief executive officer directly owned 622,712 shares of the company's stock, valued at approximately $137,557,080.80. This trade represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of Cintas 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 transaction, the director owned 21,945 shares in the company, 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. 15.00% of the stock is owned by corporate insiders.

Cintas Stock Performance

Shares of CTAS stock traded up $1.71 on Monday, reaching $210.03. The stock had a trading volume of 1,768,762 shares, compared to its average volume of 1,713,109. 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 Corporation has a 1 year low of $180.78 and a 1 year high of $229.24. The stock has a market cap of $84.64 billion, a P/E ratio of 47.63, a price-to-earnings-growth ratio of 3.62 and a beta of 1.01. The company has a 50 day simple moving average of $219.22 and a 200 day simple moving average of $212.93.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%.Cintas's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.99 earnings per share. 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 announced 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 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. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

A number of research firms have recently commented on CTAS. Robert W. Baird increased 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. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $196.00 to $221.00 in a report on Tuesday, July 1st. JPMorgan Chase & Co. began coverage on Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 price target for the company. Finally, Morgan Stanley increased 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. One investment 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 assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $224.54.

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.