Zions Bancorporation purchased a new stake in shares of Cintas Co. (NASDAQ:CTAS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,225 shares of the business services provider’s stock, valued at approximately $242,000.
A number of other large investors have also bought and sold shares of CTAS. Cornerstone Wealth Management LLC raised its position in Cintas by 18,267.8% during the second quarter. Cornerstone Wealth Management LLC now owns 766,673 shares of the business services provider’s stock valued at $4,064,000 after buying an additional 762,499 shares during the period. FMR LLC raised its position in Cintas by 15.9% during the second quarter. FMR LLC now owns 2,507,776 shares of the business services provider’s stock valued at $464,114,000 after buying an additional 344,359 shares during the period. King Luther Capital Management Corp raised its position in Cintas by 127.9% during the second quarter. King Luther Capital Management Corp now owns 458,356 shares of the business services provider’s stock valued at $84,828,000 after buying an additional 257,231 shares during the period. Brown Advisory Inc. raised its position in Cintas by 10.5% during the second quarter. Brown Advisory Inc. now owns 1,599,614 shares of the business services provider’s stock valued at $296,040,000 after buying an additional 151,458 shares during the period. Finally, Bessemer Group Inc. raised its position in Cintas by 12.6% during the second quarter. Bessemer Group Inc. now owns 1,297,097 shares of the business services provider’s stock valued at $240,054,000 after buying an additional 145,128 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CTAS stock opened at $178.88 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 2.65 and a debt-to-equity ratio of 0.76. Cintas Co. has a fifty-two week low of $144.40 and a fifty-two week high of $217.34. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.06 and a beta of 1.03.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 25th. The business services provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.13. Cintas had a return on equity of 24.13% and a net margin of 12.72%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted $1.45 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Cintas Co. will post 7.24 earnings per share for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a $2.05 dividend. This is a positive change from Cintas’s previous annual dividend of $1.62. This represents a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. Cintas’s dividend payout ratio is presently 27.27%.
Several research analysts recently weighed in on CTAS shares. Morgan Stanley upped their price target on Cintas from $152.00 to $158.00 and gave the company a “$192.53” rating in a research report on Wednesday, July 18th. Stifel Nicolaus upped their price target on Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, July 20th. Robert W. Baird reissued a “buy” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, July 20th. Barclays upped their price target on Cintas from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. Finally, Nomura reissued a “hold” rating and set a $188.00 price target on shares of Cintas in a research report on Sunday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $196.33.
ILLEGAL ACTIVITY NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/11/06/1225-shares-in-cintas-co-ctas-acquired-by-zions-bancorporation.html.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
Recommended Story: Retained Earnings
Receive News & Ratings for Cintas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cintas and related companies with MarketBeat.com's FREE daily email newsletter.