The Manufacturers Life Insurance Company Decreases Stake in Cintas Corporation $CTAS

Key Points

• The Manufacturers Life Insurance Company decreased its stake in Cintas Corporation by 10.2%, selling 56,353 shares and retaining approximately 0.12% of the company, valued at $101.8 million.
• A number of analysts have upgraded their ratings for Cintas, with price targets raised by firms like UBS Group and Goldman Sachs, indicating a generally positive outlook on the stock.
• Cintas has declared a quarterly dividend of $0.45 per share, marking an increase from the previous $0.39, with the upcoming payment slated for September 15th.

The Manufacturers Life Insurance Company reduced its position in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 495,239 shares of the business services provider's stock after selling 56,353 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Cintas worth $101,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Cintas by 3.9% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,256 shares of the business services provider's stock worth $258,000 after acquiring an additional 47 shares during the last quarter. Oarsman Capital Inc. lifted its stake in Cintas by 3.9% in the first quarter. Oarsman Capital Inc. now owns 1,321 shares of the business services provider's stock worth $272,000 after acquiring an additional 49 shares during the last quarter. MJP Associates Inc. ADV raised its holdings in Cintas by 2.1% during the fourth quarter. MJP Associates Inc. ADV now owns 2,412 shares of the business services provider's stock worth $441,000 after purchasing an additional 50 shares in the last quarter. Truvestments Capital LLC raised its holdings in Cintas by 17.4% during the first quarter. Truvestments Capital LLC now owns 338 shares of the business services provider's stock worth $69,000 after purchasing an additional 50 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in Cintas by 4.1% during the first quarter. Kathmere Capital Management LLC now owns 1,293 shares of the business services provider's stock worth $266,000 after purchasing an additional 51 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Cintas in a report on Monday, July 14th. They set an "overweight" rating and a $239.00 price objective on the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 price objective on shares of Cintas in a report on Thursday, August 21st. Morgan Stanley raised their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. 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 report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $224.54.

Insider Activity at Cintas

In related news, Director Martin Mucci bought 1,200 shares of the firm's stock in a transaction on Monday, July 21st. The shares were bought at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the transaction, the director owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd M. Schneider sold 17,301 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer owned 622,712 shares in the company, valued at $137,557,080.80. The trade was a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by insiders.

Cintas Stock Performance

NASDAQ:CTAS traded up $0.67 during midday trading on Thursday, reaching $206.28. The stock had a trading volume of 284,834 shares, compared to its average volume of 1,708,394. The firm has a fifty day simple moving average of $218.38 and a two-hundred day simple moving average of $212.87. 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 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The stock has a market cap of $83.13 billion, a P/E ratio of 46.78, a P/E/G ratio of 3.62 and a beta of 1.01.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the firm posted $3.99 EPS. Cintas's quarterly revenue was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. On average, equities analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $0.45 dividend. This is a positive change from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. Cintas's payout ratio 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.