Raiffeisen Bank International AG Takes Position in Cintas Co. (NASDAQ:CTAS)

Raiffeisen Bank International AG acquired a new stake in Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 22,793 shares of the business services provider’s stock, valued at approximately $4,187,000.

Several other institutional investors and hedge funds have also modified their holdings of CTAS. Norges Bank acquired a new position in shares of Cintas in the 4th quarter valued at about $877,216,000. JPMorgan Chase & Co. raised its holdings in Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after purchasing an additional 1,286,668 shares during the period. Winslow Capital Management LLC acquired a new position in Cintas in the 4th quarter worth about $196,057,000. Barclays PLC raised its holdings in Cintas by 340.1% in the 3rd quarter. Barclays PLC now owns 1,089,535 shares of the business services provider’s stock worth $224,312,000 after purchasing an additional 841,952 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Cintas in the 4th quarter worth about $96,282,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, April 16th. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Thursday, March 27th. Bank of America began coverage on Cintas in a report on Thursday, April 10th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Redburn Atlantic lowered Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective for the company. in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus target price of $213.88.

Insider Activity

In related news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at approximately $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the transaction, the director now owns 27,029 shares of the company’s stock, valued at $5,647,979.84. The trade was a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 15.00% of the company’s stock.

Cintas Price Performance

CTAS stock opened at $218.49 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The business has a 50 day simple moving average of $204.03 and a 200-day simple moving average of $204.65. The firm has a market capitalization of $88.22 billion, a PE ratio of 52.68, a price-to-earnings-growth ratio of 3.98 and a beta of 1.09. Cintas Co. has a 1 year low of $164.93 and a 1 year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.84 earnings per share. Equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.71%. Cintas’s dividend payout ratio (DPR) is presently 36.11%.

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.