Salem Investment Counselors Inc. Sells 57 Shares of Cintas Corporation $CTAS

Salem Investment Counselors Inc. trimmed its position in Cintas Corporation (NASDAQ:CTAS) by 9.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 520 shares of the business services provider’s stock after selling 57 shares during the period. Salem Investment Counselors Inc.’s holdings in Cintas were worth $116,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. WPG Advisers LLC bought a new position in shares of Cintas in the 1st quarter worth about $27,000. Saudi Central Bank acquired a new stake in shares of Cintas in the 1st quarter valued at about $29,000. Stone House Investment Management LLC acquired a new stake in shares of Cintas in the 1st quarter valued at about $41,000. Resources Management Corp CT ADV acquired a new position in Cintas during the 1st quarter valued at about $41,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Cintas by 646.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 181 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

NASDAQ CTAS opened at $202.37 on Monday. The company has a 50-day simple moving average of $216.03 and a two-hundred day simple moving average of $212.92. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. Cintas Corporation has a 12-month low of $180.78 and a 12-month high of $229.24. The firm has a market cap of $81.55 billion, a price-to-earnings ratio of 45.89, a PEG ratio of 3.49 and a beta of 1.01.

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

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This is a positive change from Cintas’s previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.9%. Cintas’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price 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. Morgan Stanley lifted their price target 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. UBS Group boosted their target price on shares of Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on shares of Cintas in a report on Monday, July 14th. They set an “overweight” rating and a $239.00 target price on the stock. Finally, Robert W. Baird boosted their price target 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. One equities research 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 company. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $224.54.

Insider Buying and Selling

In related 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 corporate 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.