Baader Bank Aktiengesellschaft Raises Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Baader Bank Aktiengesellschaft increased its holdings in Cintas Corporation by 91.9%, acquiring an additional 1,165 shares, bringing its total to 2,433 shares valued at approximately $489,000.
• Cintas announced a quarterly dividend increase to $0.45 per share, up from $0.39, representing an annualized yield of 0.81%.
• In its latest earnings announcement, Cintas reported an EPS of $1.09, surpassing analysts' expectations, with revenue of $2.67 billion, marking an 8.0% year-over-year growth.

Baader Bank Aktiengesellschaft grew its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 91.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,433 shares of the business services provider's stock after buying an additional 1,165 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Cintas were worth $489,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Cintas by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 8,468,080 shares of the business services provider's stock worth $1,544,822,000 after buying an additional 219,809 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cintas by 6.1% in the 4th quarter. Invesco Ltd. now owns 5,118,479 shares of the business services provider's stock worth $935,146,000 after purchasing an additional 296,059 shares during the period. Northern Trust Corp raised its holdings in shares of Cintas by 13.1% in the 4th quarter. Northern Trust Corp now owns 4,067,037 shares of the business services provider's stock worth $743,048,000 after purchasing an additional 472,069 shares during the period. Royal Bank of Canada raised its holdings in shares of Cintas by 3.3% in the 4th quarter. Royal Bank of Canada now owns 3,655,835 shares of the business services provider's stock worth $667,919,000 after purchasing an additional 115,268 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Cintas by 11.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,818,147 shares of the business services provider's stock worth $514,875,000 after purchasing an additional 295,226 shares during the period. Institutional investors own 63.46% of the company's stock.

Cintas Price Performance

Shares of CTAS traded down $1.05 during mid-day trading on Friday, reaching $221.50. 1,304,254 shares of the stock traded hands, compared to its average volume of 1,374,874. The firm has a fifty day moving average price of $221.43 and a 200 day moving average price of $210.36. The company has a market cap of $89.26 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 3.50 and a beta of 1.05. 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 1 year low of $180.78 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the business earned $3.99 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Cintas Corporation will post 4.31 earnings per share for the current year.

Cintas Increases Dividend

The business also recently announced 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 represents a $1.80 annualized dividend and a yield of 0.8%. This is a boost from Cintas's previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas's dividend payout ratio (DPR) is presently 40.82%.

Insider Buying and Selling

In other Cintas news, Director Martin Mucci purchased 1,200 shares of the stock in a transaction on Monday, July 21st. The stock was acquired at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the purchase, the director directly owned 2,621 shares of the company's stock, valued at approximately $583,303.55. This trade represents a 84.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on CTAS shares. 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. Robert W. Baird lifted their price target on shares of Cintas from $227.00 to $230.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. UBS Group lifted their price target on shares of Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company raised shares of Cintas from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $196.00 to $221.00 in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $240.00 target price (up previously from $215.00) on shares of Cintas in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $224.54.

Cintas Profile

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.