Zions Bancorporation National Association UT Buys Shares of 15,462 Cintas Corporation (NASDAQ:CTAS)

Zions Bancorporation National Association UT bought a new stake in Cintas Corporation (NASDAQ:CTAS) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,462 shares of the business services provider’s stock, valued at approximately $3,178,000.

Several other large investors have also recently bought and sold shares of the company. Townsquare Capital LLC raised its position in Cintas by 26.8% in the first quarter. Townsquare Capital LLC now owns 40,049 shares of the business services provider’s stock valued at $8,231,000 after purchasing an additional 8,458 shares during the last quarter. Founders Financial Alliance LLC increased its stake in shares of Cintas by 27.0% in the first quarter. Founders Financial Alliance LLC now owns 2,332 shares of the business services provider’s stock valued at $479,000 after buying an additional 496 shares during the period. Everett Harris & Co. CA acquired a new stake in Cintas during the first quarter worth approximately $205,000. Nicholson Wealth Management Group LLC grew its stake in Cintas by 5.0% during the first quarter. Nicholson Wealth Management Group LLC now owns 5,788 shares of the business services provider’s stock worth $1,190,000 after purchasing an additional 277 shares during the period. Finally, Savvy Advisors Inc. grew its stake in Cintas by 26.6% during the first quarter. Savvy Advisors Inc. now owns 1,568 shares of the business services provider’s stock worth $322,000 after purchasing an additional 329 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Cintas Stock Up 1.3%

CTAS stock opened at $226.27 on Friday. Cintas Corporation has a twelve month low of $180.78 and a twelve month high of $229.24. The company has a quick ratio of 1.82, a current ratio of 2.09 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $221.38 and its 200-day moving average is $211.26. The firm has a market capitalization of $91.18 billion, a PE ratio of 51.31, a P/E/G ratio of 3.85 and a beta of 1.03.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.63 billion. Cintas had a return on equity of 41.21% and a net margin of 17.53%. Cintas’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $3.99 earnings per share. Sell-side analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.8%. This is an increase from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 15th. Cintas’s dividend payout ratio is 35.37%.

Insider Buying and Selling

In related news, Director Ronald W. Tysoe sold 5,084 shares of Cintas stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $223.47, for a total transaction of $1,136,121.48. Following the sale, the director directly owned 21,945 shares in the company, valued at approximately $4,904,049.15. This trade represents a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Martin Mucci purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The shares were acquired at an average price of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the acquisition, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. This trade represents a 84.45% increase in their position. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CTAS shares. JPMorgan Chase & Co. started coverage on Cintas in a research note on Monday, July 14th. They set an “overweight” rating and a $239.00 target price for the company. Morgan Stanley raised their target price on Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. The Goldman Sachs Group raised their target price on Cintas from $233.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. UBS Group raised their price objective on Cintas from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Finally, Robert W. Baird raised their price objective on Cintas from $227.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cintas has a consensus rating of “Hold” and an average price target of $224.54.

Cintas Company 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.