Harvest Fund Management Co. Ltd Purchases 4,877 Shares of Cintas Corporation $CTAS

Harvest Fund Management Co. Ltd grew its position in shares of Cintas Corporation (NASDAQ:CTAS) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,140 shares of the business services provider’s stock after buying an additional 4,877 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cintas were worth $6,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Cintas by 9.3% in the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock worth $232,000 after purchasing an additional 108 shares during the period. Sivia Capital Partners LLC raised its holdings in Cintas by 42.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock worth $321,000 after purchasing an additional 428 shares during the period. Gamco Investors INC. ET AL bought a new position in Cintas in the 2nd quarter worth $625,000. Treasurer of the State of North Carolina raised its holdings in Cintas by 20.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock worth $47,291,000 after purchasing an additional 35,781 shares during the period. Finally, Ieq Capital LLC raised its holdings in Cintas by 50.2% in the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock worth $20,710,000 after purchasing an additional 31,068 shares during the period. 63.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTAS has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price on the stock in a report on Wednesday, March 11th. Weiss Ratings cut Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating on shares of Cintas in a report on Thursday, March 12th. Finally, Citigroup decreased their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $215.17.

Insider Buying and Selling at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares in the company, valued at $4,015,273.76. This trade represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 14.90% of the stock is currently owned by insiders.

Cintas Trading Up 3.0%

Shares of Cintas stock opened at $179.96 on Friday. The firm has a market cap of $72.00 billion, a price-to-earnings ratio of 50.84, a PEG ratio of 2.78 and a beta of 0.94. The business has a 50-day moving average price of $172.53 and a 200-day moving average price of $184.52. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $229.24.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 earnings per share. Equities research analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio (DPR) is presently 50.85%.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.