Zurcher Kantonalbank Zurich Cantonalbank Buys 314,190 Shares of Cintas Corporation $CTAS

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 276.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,894 shares of the business services provider’s stock after purchasing an additional 314,190 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Cintas worth $80,474,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CTAS. Richardson Financial Services Inc. lifted its stake in shares of Cintas by 1.1% during the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider’s stock valued at $951,000 after acquiring an additional 54 shares during the period. Woodward Diversified Capital LLC grew its holdings in Cintas by 4.7% during the third quarter. Woodward Diversified Capital LLC now owns 1,229 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 55 shares during the period. Continuum Advisory LLC grew its holdings in shares of Cintas by 0.8% in the 3rd quarter. Continuum Advisory LLC now owns 6,894 shares of the business services provider’s stock valued at $1,415,000 after buying an additional 56 shares during the period. Mather Group LLC. grew its stake in Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider’s stock valued at $824,000 after acquiring an additional 59 shares during the period. Finally, Oakworth Capital Inc. grew its position in shares of Cintas by 4.8% in the 3rd quarter. Oakworth Capital Inc. now owns 1,300 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 60 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Stifel Nicolaus lowered their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Citigroup dropped their price objective on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research note on Tuesday, March 31st. Bank of America began coverage on shares of Cintas in a research report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective on the stock. Finally, Argus raised Cintas to a “strong-buy” rating in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $215.17.

Cintas Stock Performance

Shares of CTAS stock opened at $179.17 on Monday. The stock’s fifty day simple moving average is $187.33 and its 200 day simple moving average is $188.46. Cintas Corporation has a twelve month low of $165.60 and a twelve month high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $71.68 billion, a P/E ratio of 50.61, a P/E/G ratio of 3.15 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Cintas’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Cintas’s dividend payout ratio is 50.85%.

Cintas Profile

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.