Raiffeisen Bank International AG Has $5.04 Million Stake in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Raiffeisen Bank International AG increased its holdings in Cintas Corporation by 8.8%, bringing its stake to 24,805 shares valued at approximately $5.04 million as of the end of the first quarter.
• Analysts have issued mixed ratings on Cintas, with a consensus rating of "Hold" and a price target of $224.54, while some analysts anticipate growth with target prices reaching up to $255.00.
• Cintas recently increased its quarterly dividend by 15% to $0.45 per share, resulting in an annualized dividend yield of 0.8%.

Raiffeisen Bank International AG lifted its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,805 shares of the business services provider's stock after purchasing an additional 2,012 shares during the quarter. Raiffeisen Bank International AG's holdings in Cintas were worth $5,041,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. R Squared Ltd increased its stake in Cintas by 17.8% during the 1st quarter. R Squared Ltd now owns 1,590 shares of the business services provider's stock worth $327,000 after purchasing an additional 240 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Cintas by 276.0% in the first quarter. Jupiter Asset Management Ltd. now owns 289,133 shares of the business services provider's stock valued at $59,426,000 after buying an additional 212,228 shares in the last quarter. TIAA Trust National Association boosted its holdings in shares of Cintas by 6.8% in the first quarter. TIAA Trust National Association now owns 5,745 shares of the business services provider's stock valued at $1,181,000 after buying an additional 365 shares during the period. UNIVEST FINANCIAL Corp increased its position in shares of Cintas by 183.8% during the first quarter. UNIVEST FINANCIAL Corp now owns 3,860 shares of the business services provider's stock worth $793,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Baker Avenue Asset Management LP increased its position in shares of Cintas by 11.4% during the first quarter. Baker Avenue Asset Management LP now owns 2,739 shares of the business services provider's stock worth $563,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CTAS shares. JPMorgan Chase & Co. began coverage on shares of Cintas in a research note on Monday, July 14th. They issued an "overweight" rating and a $239.00 target price for the company. UBS Group upped their price objective on Cintas from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Argus raised Cintas to a "strong-buy" rating in a research report on Wednesday, April 16th. Royal Bank Of Canada restated a "sector perform" rating and issued a $240.00 target price (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Redburn Atlantic cut shares of Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price target for the company. in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $224.54.

Cintas Stock Performance

NASDAQ CTAS opened at $221.50 on Monday. The firm has a market capitalization of $89.26 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. The company has a current ratio of 2.09, a quick ratio of 1.82 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average price is $221.43 and its two-hundred day moving average price is $210.55. 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 issued its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.63 billion. During the same period in the prior year, the firm earned $3.99 EPS. Cintas's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

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

Insider Buying and Selling

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the company's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the transaction, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald W. Tysoe sold 5,084 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the completion of the transaction, the director directly owned 21,945 shares in the company, valued at $4,904,049.15. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is owned by insiders.

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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