Woodline Partners LP Raises Stake in Cintas Corporation $CTAS

Key Points

• Woodline Partners LP increased its stake in Cintas Corporation by 40.8%, acquiring an additional 8,392 shares, bringing their total to 28,979 shares valued at approximately $5.96 million.
• Cintas recently announced a quarterly dividend of $0.45 per share, an increase from the previous $0.39, indicating a positive outlook on cash returns to shareholders.
• Wall Street analysts have mixed ratings for Cintas, with a consensus rating of "Hold" and an average price target of $224.54, reflecting varying outlooks on the company's future performance.

Woodline Partners LP raised its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 40.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,979 shares of the business services provider's stock after purchasing an additional 8,392 shares during the quarter. Woodline Partners LP's holdings in Cintas were worth $5,956,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. MBB Public Markets I LLC purchased a new stake in Cintas in the first quarter valued at $320,000. Ascent Group LLC raised its position in shares of Cintas by 6.1% in the first quarter. Ascent Group LLC now owns 28,126 shares of the business services provider's stock worth $5,781,000 after acquiring an additional 1,608 shares during the period. United Services Automobile Association acquired a new position in shares of Cintas in the first quarter worth about $1,633,000. Caxton Associates LLP acquired a new position in shares of Cintas in the first quarter worth about $2,273,000. Finally, Hamilton Capital LLC acquired a new position in shares of Cintas in the first quarter worth about $241,000. 63.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cintas

In other Cintas news, Director Ronald W. Tysoe sold 5,084 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director owned 21,945 shares of the company's stock, valued at $4,904,049.15. This trade represents a 18.81% decrease in their position. The sale 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 firm'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 transaction of $3,821,790.90. Following the completion of the transaction, the chief executive officer directly 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. 15.00% of the stock is currently owned by corporate insiders.

Cintas Price Performance

CTAS stock traded up $0.67 during mid-day trading on Thursday, reaching $200.65. The company's stock had a trading volume of 454,791 shares, compared to its average volume of 1,716,717. The stock has a market cap of $80.86 billion, a PE ratio of 45.50, a P/E/G ratio of 3.44 and a beta of 1.01. 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 Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24. The company's 50 day moving average is $215.02 and its two-hundred day moving average is $212.68.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings results 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 net margin of 17.53% and a return on equity of 41.21%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the company posted $3.99 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Cintas has set its FY 2026 guidance at 4.710-4.85 EPS. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on CTAS shares. Morgan Stanley upped their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. 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. Wells Fargo & Company upgraded shares of Cintas from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $196.00 to $221.00 in a research report on Tuesday, July 1st. Robert W. Baird upped their price objective 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. Finally, UBS Group upped their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" 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, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $224.54.

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.