Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,802 Shares of Cintas Corporation $CTAS

Key Points

• Sumitomo Mitsui DS Asset Management increased its holdings in Cintas Corporation by 2.4%, acquiring an additional 1,802 shares, resulting in a total ownership of 78,300 shares valued at approximately $17.45 million.
• Cintas reported $1.09 earnings per share for the last quarter, exceeding analysts' estimates of $1.07, with year-over-year revenue growth of 8% to $2.67 billion.
• The company announced a quarterly dividend increase from $0.39 to $0.45, representing an annualized payout of $1.80 and a yield of 0.9%, with a payout ratio of 40.82%.

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,300 shares of the business services provider's stock after buying an additional 1,802 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cintas were worth $17,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in CTAS. Brighton Jones LLC increased its stake in shares of Cintas by 9.3% in the fourth quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider's stock valued at $232,000 after buying an additional 108 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Cintas by 0.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 514,336 shares of the business services provider's stock valued at $93,969,000 after buying an additional 3,504 shares during the period. State of Wyoming increased its stake in shares of Cintas by 912.2% in the fourth quarter. State of Wyoming now owns 1,822 shares of the business services provider's stock valued at $333,000 after buying an additional 1,642 shares during the period. Woodline Partners LP acquired a new position in shares of Cintas in the fourth quarter valued at approximately $3,761,000. Finally, Waverly Advisors LLC increased its stake in shares of Cintas by 102.1% in the fourth quarter. Waverly Advisors LLC now owns 11,509 shares of the business services provider's stock valued at $2,103,000 after buying an additional 5,814 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CTAS shares. Robert W. Baird increased their target price on shares of Cintas from $227.00 to $230.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on shares of Cintas in a research report on Monday, July 14th. They set an "overweight" rating and a $239.00 target price for the company. Morgan Stanley increased their target price on shares of Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. UBS Group increased their target price on shares of Cintas from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 target price on shares of Cintas in a research report on Thursday, August 21st. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $224.54.

Insider Buying and Selling at Cintas

In related news, Director Martin Mucci acquired 1,200 shares of the company's stock in a transaction on Monday, July 21st. The shares were acquired at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the purchase, the director owned 2,621 shares in the company, valued at approximately $583,303.55. The trade was a 84.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company's stock.

Cintas Stock Up 0.3%

NASDAQ CTAS traded up $0.62 during mid-day trading on Friday, hitting $200.13. The company's stock had a trading volume of 4,117,133 shares, compared to its average volume of 1,984,594. The company's 50 day simple moving average is $214.38 and its 200 day simple moving average is $212.59. Cintas Corporation has a twelve month low of $180.78 and a twelve month 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. The firm has a market capitalization of $80.65 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 3.44 and a beta of 1.01.

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, 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 analysts' expectations of $2.63 billion. During the same period last year, the business earned $3.99 EPS. 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. Analysts anticipate that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were paid a dividend of $0.45 per share. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 0.9%. 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.