Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Cintas Corporation $CTAS

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cintas Corporation (NASDAQ:CTAS) by 276.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 427,894 shares of the business services provider’s stock after purchasing an additional 314,190 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cintas were worth $80,474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Key Capital Management INC bought a new position in shares of Cintas during the 4th quarter worth $28,000. Triumph Capital Management bought a new position in shares of Cintas in the third quarter valued at approximately $29,000. Alpine Bank Wealth Management grew its position in shares of Cintas by 1,092.9% during the 3rd quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in Cintas during the fourth quarter worth about $34,000. Finally, WPG Advisers LLC grew its holdings in shares of Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider’s stock worth $35,000 after purchasing an additional 81 shares in the last quarter. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on CTAS. Argus raised Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Bank of America began coverage on Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price target for the company. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective on the stock in a research report on Wednesday, March 11th. Stifel Nicolaus decreased their price objective on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Finally, Weiss Ratings downgraded Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $215.17.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $179.17 on Monday. The stock’s 50-day moving average is $187.33 and its 200 day moving average is $188.46. The company has a market cap of $71.68 billion, a PE ratio of 50.61, a P/E/G ratio of 3.15 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas Corporation has a 1 year low of $165.60 and a 1 year high of $229.24.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the company posted $1.13 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Sell-side analysts anticipate that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 50.85%.

About Cintas

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.