DekaBank Deutsche Girozentrale Has $48.19 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

DekaBank Deutsche Girozentrale cut its stake in shares of Cintas Co. (NASDAQ:CTAS) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,103 shares of the business services provider’s stock after selling 2,178 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.07% of Cintas worth $48,191,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Simplicity Solutions LLC lifted its holdings in Cintas by 117.7% during the fourth quarter. Simplicity Solutions LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after acquiring an additional 1,743 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Cintas during the fourth quarter worth about $8,015,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cintas by 91.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,642 shares of the business services provider’s stock worth $29,315,000 after acquiring an additional 23,197 shares in the last quarter. Arlington Trust Co LLC bought a new position in Cintas during the fourth quarter worth about $56,000. Finally, Bleakley Financial Group LLC lifted its holdings in Cintas by 117.7% during the fourth quarter. Bleakley Financial Group LLC now owns 3,224 shares of the business services provider’s stock worth $1,943,000 after acquiring an additional 1,743 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Price Performance

Shares of CTAS stock traded down $5.15 during trading on Friday, hitting $756.76. The company had a trading volume of 485,161 shares, compared to its average volume of 420,490. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. The firm has a market capitalization of $76.26 billion, a P/E ratio of 52.26, a price-to-earnings-growth ratio of 4.06 and a beta of 1.31. The stock’s 50-day moving average price is $713.86 and its 200 day moving average price is $669.48. Cintas Co. has a one year low of $474.74 and a one year high of $773.95.

Shares of Cintas are scheduled to split on Thursday, September 12th. The 4-1 split was announced on Thursday, May 2nd. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, September 11th.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 18th. The business services provider reported $3.99 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.19. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company earned $3.33 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts expect that Cintas Co. will post 16.62 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share buyback program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 0.82%. This is a boost from Cintas’s previous quarterly dividend of $1.35. The ex-dividend date is Thursday, August 15th. Cintas’s dividend payout ratio is presently 37.29%.

Insider Activity

In related news, Director Ronald W. Tysoe sold 2,291 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the sale, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ronald W. Tysoe sold 2,291 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $693.95, for a total value of $1,589,839.45. Following the completion of the sale, the director now directly owns 6,655 shares in the company, valued at $4,618,237.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald S. Adolph sold 1,100 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $765.72, for a total value of $842,292.00. Following the completion of the sale, the director now owns 31,452 shares of the company’s stock, valued at $24,083,425.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,709 shares of company stock worth $3,346,441. Insiders own 15.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CTAS shares. Barclays boosted their price target on Cintas from $700.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Royal Bank of Canada lowered Cintas from an “outperform” rating to a “sector perform” rating and set a $725.00 target price on the stock. in a report on Monday, July 15th. Morgan Stanley upped their target price on Cintas from $575.00 to $625.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Stifel Nicolaus upped their target price on Cintas from $667.00 to $798.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $775.00 target price (up previously from $750.00) on shares of Cintas in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cintas currently has an average rating of “Hold” and a consensus price target of $749.00.

Cintas Company Profile

Cintas Corporation provides 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.