Zurcher Kantonalbank Zurich Cantonalbank Acquires 67,379 Shares of Cintas Co. (NASDAQ:CTAS)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Cintas Co. (NASDAQ:CTAS) by 40.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,523 shares of the business services provider’s stock after acquiring an additional 67,379 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cintas were worth $43,030,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTAS. Argentarii LLC bought a new stake in Cintas during the fourth quarter worth about $926,000. OFI Invest Asset Management bought a new stake in Cintas during the fourth quarter worth about $37,000. Haven Private LLC bought a new stake in Cintas during the fourth quarter worth about $986,000. Destination Wealth Management lifted its position in Cintas by 432.5% during the fourth quarter. Destination Wealth Management now owns 14,165 shares of the business services provider’s stock worth $2,588,000 after purchasing an additional 11,505 shares during the period. Finally, Callan Family Office LLC bought a new stake in Cintas during the fourth quarter worth about $1,491,000. Institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTAS. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 target price on shares of Cintas in a research note on Friday, December 20th. Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Stock Performance

NASDAQ:CTAS opened at $200.61 on Tuesday. The company has a market capitalization of $80.95 billion, a PE ratio of 48.37, a P/E/G ratio of 3.98 and a beta of 1.41. The company has a 50 day simple moving average of $199.24 and a two-hundred day simple moving average of $209.36. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. Cintas Co. has a fifty-two week low of $154.16 and a fifty-two week high of $228.12.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.61 EPS. Research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

Cintas Company 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.