Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cintas Co. (NASDAQ:CTAS - Free Report) by 91.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,642 shares of the business services provider's stock after acquiring an additional 23,197 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Cintas were worth $29,315,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CTAS. Norges Bank acquired a new stake in Cintas during the fourth quarter valued at $379,291,000. Select Equity Group L.P. grew its position in Cintas by 1,344.1% during the fourth quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider's stock valued at $213,819,000 after buying an additional 440,662 shares during the period. Goldman Sachs Group Inc. grew its position in Cintas by 52.5% during the second quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider's stock valued at $422,825,000 after buying an additional 292,701 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Cintas by 8,140.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider's stock valued at $73,609,000 after buying an additional 170,939 shares during the period. Finally, Invesco Ltd. grew its position in Cintas by 17.4% during the third quarter. Invesco Ltd. now owns 1,025,615 shares of the business services provider's stock valued at $493,331,000 after buying an additional 151,783 shares during the period. Institutional investors and hedge funds own 63.46% of the company's stock.
Cintas Price Performance
Shares of NASDAQ:CTAS traded up $1.95 during midday trading on Wednesday, hitting $668.51. The company's stock had a trading volume of 295,763 shares, compared to its average volume of 344,750. The business's 50 day simple moving average is $641.27 and its 200 day simple moving average is $585.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.38. The company has a market cap of $67.77 billion, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 3.89 and a beta of 1.27. Cintas Co. has a 12-month low of $438.59 and a 12-month high of $704.84.
Cintas (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping analysts' consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the firm earned $3.14 earnings per share. Cintas's quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Cintas Co. will post 14.96 EPS for the current year.
Cintas Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, May 14th. Cintas's dividend payout ratio (DPR) is presently 37.29%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cintas from $629.00 to $726.00 and gave the company a "hold" rating in a research report on Thursday, March 28th. Truist Financial lifted their target price on shares of Cintas from $660.00 to $775.00 and gave the company a "buy" rating in a research report on Thursday, March 28th. The Goldman Sachs Group lifted their target price on shares of Cintas from $673.00 to $765.00 and gave the company a "buy" rating in a research report on Thursday, March 28th. Royal Bank of Canada lifted their target price on shares of Cintas from $675.00 to $725.00 and gave the company an "outperform" rating in a research report on Thursday, March 28th. Finally, Oppenheimer reiterated a "market perform" rating on shares of Cintas in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $661.21.
Check Out Our Latest Research Report on CTAS
Cintas Company Profile
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Free Report)
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.
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