Zions Bancorporation N.A. Has $1.20 Million Holdings in Cintas Co. (NASDAQ:CTAS)

Zions Bancorporation N.A. decreased its position in Cintas Co. (NASDAQ:CTAS) by 41.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,716 shares of the business services provider’s stock after selling 1,198 shares during the quarter. Zions Bancorporation N.A.’s holdings in Cintas were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vantage Financial Partners LLC acquired a new position in Cintas during the fourth quarter worth approximately $1,029,000. Aveo Capital Partners LLC grew its position in shares of Cintas by 4.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,143 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 44 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Cintas by 16.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,966 shares of the business services provider’s stock valued at $1,788,000 after purchasing an additional 422 shares during the period. Avantax Advisory Services Inc. grew its holdings in Cintas by 5.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 1,857 shares of the business services provider’s stock valued at $1,119,000 after buying an additional 97 shares in the last quarter. Finally, Haverford Trust Co boosted its position in shares of Cintas by 8.8% in the fourth quarter. Haverford Trust Co now owns 657 shares of the business services provider’s stock valued at $396,000 after acquiring an additional 53 shares during the period. 63.46% of the stock is currently owned by institutional investors.

Insider Activity at Cintas

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the transaction, the director now owns 125,808 shares in the company, valued at approximately $24,083,425.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 15.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CTAS. Truist Financial raised their price target on shares of Cintas from $193.75 to $212.50 and gave the stock a “buy” rating in a research report on Friday, July 19th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. Redburn Atlantic began coverage on Cintas in a report on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective on the stock. Citigroup cut shares of Cintas from a “neutral” rating to a “sell” rating and upped their price target for the company from $132.50 to $142.50 in a research report on Friday, May 24th. Finally, Royal Bank of Canada cut Cintas from an “outperform” rating to a “sector perform” rating and set a $181.25 target price on the stock. in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $185.41.

Cintas Trading Up 0.8 %

NASDAQ:CTAS opened at $207.77 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.52 and a debt-to-equity ratio of 0.47. Cintas Co. has a 12-month low of $118.68 and a 12-month high of $209.12. The stock has a fifty day moving average price of $204.28 and a 200 day moving average price of $180.68. The firm has a market cap of $20.94 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 4.36 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.05. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 EPS. Sell-side analysts anticipate that Cintas Co. will post 16.64 earnings per share for the current fiscal year.

Cintas announced that its Board of Directors has initiated a share repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Cintas Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%. Cintas’s dividend payout ratio (DPR) is presently 43.09%.

About Cintas

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.