Zions Bancorporation N.A. Acquires 4,489 Shares of Cintas Co. (NASDAQ:CTAS)

Zions Bancorporation N.A. increased its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 52.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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 filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CTAS. Sound Income Strategies LLC acquired a new stake in Cintas during the fourth quarter worth approximately $27,000. Cyrus J. Lawrence LLC acquired a new stake in Cintas in the fourth quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Cintas in the fourth quarter worth about $31,000. IAG Wealth Partners LLC increased its position in Cintas by 136.8% during the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock worth $33,000 after purchasing an additional 104 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Cintas during the fourth quarter worth $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $193.46 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas Co. has a twelve month low of $158.10 and a twelve month high of $228.12. The company has a fifty day moving average of $200.57 and a 200-day moving average of $208.92. The firm has a market capitalization of $78.07 billion, a P/E ratio of 46.64, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.81%. The ex-dividend date was Friday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.59%.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Robert W. Baird reduced their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Citigroup started coverage on shares of Cintas in a report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Wells Fargo & Company decreased their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. Finally, Truist Financial cut their price objective on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $199.79.

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.