Zions Bancorporation N.A. Increases Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Zions Bancorporation N.A. grew its position in shares of Cintas Co. (NASDAQ:CTAS - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,047 shares of the business services provider's stock after purchasing an additional 4,489 shares during the quarter. Zions Bancorporation N.A.'s holdings in Cintas were worth $2,384,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Cintas by 299.3% in the third quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock worth $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC raised its holdings in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares during the period. Geode Capital Management LLC boosted its position in Cintas by 309.7% during the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after purchasing an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its holdings in Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider's stock valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They set a "sell" rating and a $161.00 target price on the stock. UBS Group lifted their target price on shares of Cintas from $218.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group upped their price target on shares of Cintas from $211.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday. Wells Fargo & Company raised their price target on shares of Cintas from $184.00 to $196.00 and gave the company an "underweight" rating in a research note on Thursday. Finally, Truist Financial boosted their price objective on Cintas from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $210.58.

Cintas Trading Down 1.5 %

Shares of Cintas stock traded down $3.03 during mid-day trading on Friday, hitting $203.22. The stock had a trading volume of 1,684,835 shares, compared to its average volume of 1,631,493. The firm has a 50-day moving average of $201.01 and a two-hundred day moving average of $208.92. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $82.01 billion, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.84 EPS. Sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a yield of 0.77%. Cintas's dividend payout ratio (DPR) is presently 36.11%.

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.