Deutsche Bank AG acquires 98,754 shares of Cintas Co. (NASDAQ: CTAS )

Deutsche Bank AG boosted its position in shares of Cintas Co. (NASDAQ: CTAS – Get a rating) by 64.8% during the second quarter, according to the company’s most recent filing with the Securities and Exchange Commission. The firm owned 251,169 shares of the business services provider’s stock after purchasing an additional 98,754 shares during the period. Deutsche Bank AG owned 0.25% of Cintas worth $93,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Cintas in the 2nd quarter valued at approximately $37,000. MCF Advisors LLC purchased a new stake in Cintas during the 1st quarter valued at about $39,000. Glassman Wealth Services grew its holdings in Cintas by 22.9% during the 2nd quarter. Glassman Wealth Services now owns 134 shares of the business services provider’s stock valued at $50,000 after buying an additional 25 shares in the last quarter. Standard Family Office LLC acquired a new stake in Cintas during the 1st quarter worth about $70,000. Finally, CX Institutional acquired a new stake in Cintas during the 2nd quarter worth approximately $90,000. Institutional investors own 76.66% of the company’s shares.

Insider buying and selling

In related news, the director Melanie W. Barstad sold 2,116 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $415.43 for a total value of $879,049.88. Following the completion of the sale, the director now directly owns 6,250 shares in the company, valued at $2,596,437.50. The sale was disclosed in filings with the SEC, which can be accessed via this link. 15.10% of shares are owned by corporate insiders.

Changes in analysts’ ratings

CTAS has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on shares of Cintas from $352.00 to $373.00 in a report on Thursday, September 29th. Robert W. Baird reduced their price objective on shares of Cintas from $475.00 to $450.00 and set an “outperform” rating for the company in a report on Thursday, September 29th. StockNews.com initiated coverage on shares of Cintas in a report on Wednesday, October 12th. They issued a “buy” rating for the company. Stifel Nicolaus upped their target price on shares of Cintas from $415.00 to $435.00 in a report on Wednesday, September 28th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $463.00 target price on shares of Cintas in a report on Tuesday, October 25th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Moderate Buy” and an average target price of $440.70, according to MarketBeat.

Cintas stock rose 1.4%

Actions CTAS opened at $449.37 on Monday. The company has a market cap of $45.63 billion, a PE ratio of 37.67, a P/E/G ratio of 3.43 and a beta of 1.38. The business has a fifty day moving average of $410.08 and a 200 day moving average of $400.20. Cintas Co. has a 52-week low of $343.86 and a 52-week high of $461.44. The company has a gearing ratio of 1.42, a current ratio of 1.72, and a debt-to-equity ratio of 0.77.

Sintos (NASDAQ: CTAS – Get a rating) last issued its quarterly earnings results on Wednesday, September 28th. The business services provider reported $3.39 earnings per share (EPS), topping analysts’ consensus estimates of $3.13 by $0.26. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.08 billion. Cintas had a return on equity of 36.63% and a net margin of 15.46%. Cintas’ revenue was up 14.2% year over year. During the same period last year, the company earned $3.11 in earnings per share. On average, sell-side analysts expect Cintas Co. will post 12.52 earnings per share for the current year.

Cintas announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 14th. That’s $4.60 in annualized dividends and a yield of 1.02%. Cintas’s dividend payout ratio is currently 38.56%.

Cintas Company Profile

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Cintas Corporation provides corporate apparel and related business services primarily in the United States, Canada and Latin America. It operates through unified rental and facilities services, first aid and security services and all other segments. The company rents and maintains uniforms and other clothing, including fire-resistant clothing, mats, mops and towels, and other support items; and provides restroom cleaning services and supplies and sells uniforms.

Selected stories

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