Zurcher Kantonalbank Zurich Cantonalbank Has $34.62 Million Stock Position in Cintas Co. (NASDAQ:CTAS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cintas Co. (NASDAQ:CTAS) by 215.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,144 shares of the business services provider’s stock after acquiring an additional 114,806 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cintas were worth $34,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC raised its stake in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares during the last quarter. Financial Management Professionals Inc. raised its position in shares of Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Hollencrest Capital Management boosted its position in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Atwood & Palmer Inc. bought a new position in shares of Cintas during the 2nd quarter worth approximately $27,000. Finally, Addison Advisors LLC grew its holdings in Cintas by 495.7% in the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS opened at $224.05 on Friday. Cintas Co. has a 1 year low of $136.87 and a 1 year high of $228.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.53 and a quick ratio of 1.33. The stock’s fifty day moving average price is $212.33 and its two-hundred day moving average price is $198.50. The firm has a market cap of $90.36 billion, a PE ratio of 56.58, a PEG ratio of 4.41 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.70 EPS. On average, equities research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is presently 39.39%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating on the stock in a research report on Thursday, September 26th. Redburn Atlantic initiated coverage on Cintas in a research note on Friday, August 9th. They issued a “neutral” rating and a $167.50 price objective for the company. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada increased their price target on Cintas from $181.00 to $215.00 and gave the company a “sector perform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $199.63.

Cintas 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.