Shell Asset Management Co. Acquires 4,788 Shares of Cintas Corporation $CTAS

Key Points

• Shell Asset Management Co. increased its stake in Cintas Corporation by 16.7%, acquiring an additional 4,788 shares, bringing its total holdings to 33,526 shares valued at $7,472,000.
• Cintas reported a 1.20 EPS for its most recent quarter, slightly beating expectations, with a revenue of $2.72 billion, reflecting an 8.7% year-over-year increase.
• The company announced an increase in its quarterly dividend from $0.39 to $0.45 per share, representing an annual yield of 0.9% as of the ex-dividend date.

Shell Asset Management Co. raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,526 shares of the business services provider's stock after buying an additional 4,788 shares during the quarter. Shell Asset Management Co.'s holdings in Cintas were worth $7,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. WPG Advisers LLC acquired a new position in Cintas during the 1st quarter valued at $27,000. Saudi Central Bank bought a new position in shares of Cintas during the 1st quarter worth about $29,000. Stone House Investment Management LLC acquired a new position in shares of Cintas during the first quarter valued at about $41,000. Resources Management Corp CT ADV bought a new stake in shares of Cintas in the first quarter valued at about $41,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after buying an additional 181 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Cintas Trading Down 1.8%

Shares of NASDAQ CTAS opened at $199.04 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 1.94 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $210.57 and a two-hundred day moving average of $213.29. Cintas Corporation has a 1-year low of $180.78 and a 1-year high of $229.24. The company has a market cap of $80.21 billion, a PE ratio of 45.13, a P/E/G ratio of 3.50 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.19 by $0.01. The company had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $2.70 billion. Cintas had a return on equity of 40.41% and a net margin of 17.54%.The business's revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. As a group, equities analysts expect that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CTAS. 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. JPMorgan Chase & Co. lowered their price target on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of Cintas in a research report on Saturday, September 27th. Wells Fargo & Company reduced their target price on shares of Cintas from $221.00 to $218.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Finally, Robert W. Baird increased their target price on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $222.09.

Insider Buying and Selling

In related news, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were bought at an average price of $222.55 per share, with a total value of $267,060.00. Following the purchase, the director directly owned 2,621 shares in the company, valued at $583,303.55. This trade represents a 84.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 622,712 shares of the company's stock, valued at $137,557,080.80. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. 14.90% of the stock is currently owned by insiders.

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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