Deutsche Bank AG Takes $204.83 Million Position in Cintas Corporation $CTAS

Key Points

• Deutsche Bank acquired 1.2 million Cintas shares worth approximately $204.8 million, giving it a 0.30% stake. Institutional investors collectively own 63.46% of the company.
• Cintas exceeded quarterly expectations, reporting $1.29 in EPS and $2.91 billion in revenue; revenue increased 8.9% year over year. Analysts expect approximately $5.49 in EPS for the current year.
• Cintas raised its quarterly dividend from $0.45 to $0.52 per share, producing a 1.0% annualized yield. Analyst sentiment is “Moderate Buy,” with an average price target of $212.31.

Deutsche Bank AG acquired a new position in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,204,322 shares of the business services provider's stock, valued at approximately $204,831,000. Deutsche Bank AG owned 0.30% of Cintas at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. AMG National Trust Bank acquired a new position in Cintas during the 2nd quarter worth about $1,973,000. Summit Global Investments acquired a new stake in shares of Cintas in the second quarter valued at about $950,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Cintas in the second quarter valued at about $4,972,000. Riverbridge Partners LLC raised its position in shares of Cintas by 7.7% during the first quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider's stock worth $38,760,000 after acquiring an additional 16,437 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in shares of Cintas during the second quarter worth about $62,057,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 0.8%

Shares of NASDAQ:CTAS opened at $199.45 on Wednesday. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27. The business's 50-day moving average is $189.72 and its 200-day moving average is $184.77. The company has a market capitalization of $79.81 billion, a price-to-earnings ratio of 53.33, a P/E/G ratio of 3.22 and a beta of 0.91.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. Equities research analysts predict that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be given a dividend of $0.52 per share. This is a positive change from Cintas's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Cintas's payout ratio is 55.61%.

Analyst Ratings Changes

Several analysts recently commented on CTAS shares. Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, June 15th. Weiss Ratings upgraded shares of Cintas from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $200.00 to $230.00 in a research report on Thursday, July 16th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $206.00 price objective on shares of Cintas in a research note on Thursday, July 16th. Finally, Argus upgraded shares of Cintas to a "strong-buy" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.31.

About Cintas

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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