Zions Bancorporation N.A. Has $2.38 Million Stake in Cintas Co. (NASDAQ:CTAS)

Zions Bancorporation N.A. boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 52.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,047 shares of the business services provider’s stock after acquiring 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.

Several other hedge funds have also bought and sold shares of CTAS. State Street Corp lifted its stake 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 valued at $2,996,697,000 after buying an additional 10,910,285 shares in the last quarter. FMR LLC lifted its position in Cintas by 297.3% in the 3rd quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock valued at $1,807,860,000 after acquiring an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Franklin Resources Inc. boosted its stake in Cintas by 264.7% during the 3rd 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cintas by 308.2% during the 3rd 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 worth $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTAS. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. UBS Group cut their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Morgan Stanley increased their target price on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, Robert W. Baird decreased their price objective on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $199.79.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $193.46 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $200.57 and a two-hundred day simple moving average of $208.92. Cintas Co. has a 1-year low of $158.10 and a 1-year high of $228.12. The firm has a market cap of $78.07 billion, a price-to-earnings ratio of 46.64, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. Cintas’s payout ratio is 37.59%.

About Cintas

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.