Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Cintas Co. (NASDAQ:CTAS)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 91.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,642 shares of the business services provider’s stock after buying an additional 23,197 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cintas were worth $29,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Columbus Macro LLC lifted its holdings in Cintas by 1.2% during the 4th quarter. Columbus Macro LLC now owns 1,453 shares of the business services provider’s stock worth $871,000 after buying an additional 17 shares during the last quarter. Quent Capital LLC lifted its holdings in Cintas by 22.8% during the 4th quarter. Quent Capital LLC now owns 97 shares of the business services provider’s stock worth $59,000 after buying an additional 18 shares during the last quarter. Greenleaf Trust lifted its holdings in Cintas by 1.0% during the 3rd quarter. Greenleaf Trust now owns 1,899 shares of the business services provider’s stock worth $913,000 after buying an additional 19 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Cintas by 33.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after buying an additional 19 shares during the last quarter. Finally, KMG Fiduciary Partners LLC lifted its holdings in Cintas by 1.6% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 1,338 shares of the business services provider’s stock worth $644,000 after buying an additional 21 shares during the last quarter. 63.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Robert W. Baird raised their price target on Cintas from $660.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Bank of America increased their price objective on Cintas from $700.00 to $790.00 and gave the company a “buy” rating in a report on Thursday, March 28th. StockNews.com raised Cintas from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Barclays increased their price objective on Cintas from $630.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group increased their price objective on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $661.21.

Cintas Price Performance

Cintas stock opened at $666.56 on Wednesday. Cintas Co. has a 12 month low of $438.59 and a 12 month high of $704.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The business has a 50 day simple moving average of $640.34 and a 200-day simple moving average of $584.89. The stock has a market capitalization of $67.57 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. Cintas’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.14 earnings per share. Equities analysts predict that Cintas Co. will post 14.96 earnings per share for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

About Cintas

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.