Deutsche Bank AG Has $278.78 Million Holdings in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Deutsche Bank AG increased its holdings in Cintas Corporation by 22% in Q1, owning approximately $278.78 million worth of the company, with a total of 1,356,370 shares.
• Several analysts have recently updated their ratings on Cintas, with Goldman Sachs raising the price target to $257 and maintaining a "buy" rating, while Redburn Atlantic downgraded the stock to "sell" with a price target of $171.
• Cintas announced an increase in its quarterly dividend from $0.39 to $0.45 per share, set to be paid on September 15th, representing a 0.8% dividend yield.

Deutsche Bank AG lifted its position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 22.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,356,370 shares of the business services provider's stock after purchasing an additional 244,340 shares during the quarter. Deutsche Bank AG owned approximately 0.34% of Cintas worth $278,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of 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 worth $43,000 after purchasing an additional 181 shares in the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Cintas during the 1st quarter worth approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas during the 1st quarter worth approximately $46,000. Wellington Shields & Co. LLC acquired a new stake in shares of Cintas during the 1st quarter worth approximately $51,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Cintas during the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 63.46% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CTAS shares. The Goldman Sachs Group lifted their price objective on Cintas from $233.00 to $257.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley boosted their price target on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target on the stock. in a research note on Thursday, May 1st. Argus raised Cintas to a "strong-buy" rating in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company raised Cintas from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $196.00 to $221.00 in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $224.54.

Insider Transactions at Cintas

In other news, 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald W. Tysoe sold 5,084 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was 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 of the company's stock, valued at approximately $4,904,049.15. The trade was a 18.81% 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

Cintas stock opened at $223.40 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The firm has a market cap of $90.03 billion, a P/E ratio of 50.66, a P/E/G ratio of 3.87 and a beta of 1.03. The business's fifty day moving average is $221.38 and its two-hundred day moving average is $211.09. Cintas Corporation has a 52 week low of $180.78 and a 52 week high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.99 earnings per share. Equities research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current fiscal year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 15th. This is an increase from Cintas's previous quarterly dividend of $0.39. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. Cintas's dividend payout ratio is presently 35.37%.

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.

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