SCS Capital Management LLC Takes Position in Cintas Corporation $CTAS

Key Points

• SCS Capital Management LLC has made a new investment in Cintas Corporation, purchasing 4,297 shares valued at approximately $883,000.
• Several institutional investors have recently increased their stakes in Cintas, indicating a strong interest, with institutional ownership now at 63.46%.
• Cintas has increased its quarterly dividend from $0.39 to $0.45 per share, reflecting confidence in its financial performance.

SCS Capital Management LLC acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,297 shares of the business services provider's stock, valued at approximately $883,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in shares of Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock worth $232,000 after purchasing an additional 108 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Cintas by 0.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock worth $93,969,000 after buying an additional 3,504 shares during the last quarter. Gotham Asset Management LLC raised its position in Cintas by 26.9% during the fourth quarter. Gotham Asset Management LLC now owns 37,749 shares of the business services provider's stock worth $6,897,000 after acquiring an additional 8,009 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Cintas by 29.9% in the fourth quarter. Janus Henderson Group PLC now owns 91,322 shares of the business services provider's stock valued at $16,683,000 after acquiring an additional 21,015 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in Cintas in the fourth quarter valued at $1,133,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTAS shares. JPMorgan Chase & Co. initiated coverage on shares of Cintas in a report on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price on the stock. Morgan Stanley boosted their price target on 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 price objective 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 increased their target price on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, The Goldman Sachs Group upped their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $224.54.

Insiders Place Their Bets

In other Cintas news, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was acquired at an average price of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were 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 disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Trading Down 1.0%

NASDAQ:CTAS traded down $2.13 during mid-day trading on Friday, hitting $202.37. 1,371,284 shares of the company's stock were exchanged, compared to its average volume of 1,933,127. The company has a 50 day simple moving average of $216.03 and a 200-day simple moving average of $212.79. The firm has a market capitalization of $81.55 billion, a P/E ratio of 45.89, a PEG ratio of 3.53 and a beta of 1.01. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. 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 (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. The company had revenue of $2.67 billion for the quarter, compared to analysts' expectations of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. Cintas's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.99 earnings per share. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. As a group, research analysts expect that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

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