Cintas Corporation $CTAS Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 892,223 shares of the business services provider’s stock after selling 70,206 shares during the quarter. Hsbc Holdings PLC’s holdings in Cintas were worth $168,109,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Cintas during the fourth quarter worth about $923,672,000. Two Sigma Investments LP grew its stake in shares of Cintas by 5,641.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,016,671 shares of the business services provider’s stock valued at $208,682,000 after buying an additional 998,963 shares during the period. SG Americas Securities LLC grew its stake in shares of Cintas by 2,653.0% in the 4th quarter. SG Americas Securities LLC now owns 1,003,031 shares of the business services provider’s stock valued at $188,640,000 after buying an additional 966,597 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Cintas by 275.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,123,237 shares of the business services provider’s stock worth $230,556,000 after buying an additional 823,885 shares during the last quarter. Finally, Freestone Grove Partners LP increased its holdings in shares of Cintas by 5,341.8% during the 3rd quarter. Freestone Grove Partners LP now owns 747,109 shares of the business services provider’s stock worth $153,352,000 after buying an additional 733,380 shares during the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insider Activity at Cintas

In other news, Director Ronald W. Tysoe sold 4,666 shares of Cintas stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director directly owned 22,448 shares of the company’s stock, valued at approximately $4,015,273.76. The trade was a 17.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CTAS has been the topic of several analyst reports. Stifel Nicolaus reduced their price target on shares of Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. UBS Group reiterated a “buy” rating on shares of Cintas in a research report on Thursday, March 12th. Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Citigroup reduced their target price on Cintas from $181.00 to $160.00 and set a “sell” rating on the stock in a research report on Tuesday, March 31st. Finally, Robert W. Baird raised Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price target on the stock in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $215.92.

Cintas Price Performance

Cintas stock opened at $170.85 on Friday. The company’s 50 day simple moving average is $173.50 and its 200-day simple moving average is $183.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 48.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94.

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

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, May 15th. Cintas’s dividend payout ratio (DPR) is currently 50.85%.

About Cintas

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.