Simplicity Wealth LLC Purchases Shares of 2,854 Cintas Corporation $CTAS

Key Points

• Simplicity Wealth LLC acquired 2,854 shares of Cintas Corporation valued at approximately $636,000 in the second quarter.
• Many institutional investors have recently increased their stakes in Cintas, contributing to over 63% of the stock owned by such entities.
• Cintas announced a quarterly dividend of $0.45, reflecting an increase from the previous dividend and representing an annual yield of 0.9%.

Simplicity Wealth LLC acquired a new stake in Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,854 shares of the business services provider's stock, valued at approximately $636,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Cintas by 1.3% during the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider's stock worth $7,781,223,000 after buying an additional 491,307 shares in the last quarter. Nuveen LLC bought a new stake in Cintas during the first quarter worth approximately $1,877,760,000. Northern Trust Corp boosted its holdings in Cintas by 0.7% during the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider's stock worth $841,749,000 after buying an additional 28,469 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cintas by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider's stock worth $591,373,000 after buying an additional 59,162 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Cintas by 17.4% during the first quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider's stock worth $538,303,000 after buying an additional 386,721 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cintas from $246.00 to $230.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Wells Fargo & Company decreased their price objective on shares of Cintas from $221.00 to $218.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Citigroup raised their price objective on shares of Cintas from $172.00 to $176.00 and gave the stock a "sell" rating in a research note on Friday, September 26th. Royal Bank Of Canada decreased their price objective on shares of Cintas from $240.00 to $206.00 and set a "sector perform" rating for the company in a research note on Thursday, September 25th. Finally, The Goldman Sachs Group raised their price objective on shares of Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $222.09.

Cintas Stock Up 0.1%

CTAS stock opened at $199.17 on Wednesday. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a market cap of $80.26 billion, a price-to-earnings ratio of 45.16, a PEG ratio of 3.44 and a beta of 1.01. The company has a 50 day moving average of $210.10 and a two-hundred day moving average of $213.19.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's revenue was up 8.7% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. On average, 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 announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 15th. This is a positive change from Cintas's previous quarterly dividend of $0.39. Cintas's payout ratio is currently 40.82%.

Insider Activity

In other news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the transaction, the director owned 21,945 shares in the company, valued at approximately $4,904,049.15. This trade represents a 18.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Mucci purchased 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director directly owned 2,621 shares in the company, valued at $583,303.55. This represents a 84.45% increase in their position. The disclosure for this purchase can be found here. 14.90% of the stock is owned by insiders.

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.

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