Cintas Corporation $CTAS Position Cut by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Cintas Corporation (NASDAQ:CTAS) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 892,223 shares of the business services provider’s stock after selling 70,206 shares during the period. Hsbc Holdings PLC owned approximately 0.22% of Cintas worth $168,109,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTAS. Nemes Rush Group LLC acquired a new stake in shares of Cintas during the 4th quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in shares of Cintas in the fourth quarter worth approximately $25,000. Camelot Portfolios LLC acquired a new stake in shares of Cintas during the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in Cintas during the fourth quarter valued at $26,000. Finally, Key Capital Management INC bought a new stake in shares of Cintas in the 4th quarter valued at approximately $28,000. 63.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the sale, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by corporate insiders.

Cintas Price Performance

Shares of CTAS opened at $181.37 on Friday. The company has a market capitalization of $72.56 billion, a P/E ratio of 51.23, a PEG ratio of 2.89 and a beta of 0.94. Cintas Corporation has a one year low of $161.16 and a one year high of $226.75. The business’s 50 day simple moving average is $172.75 and its 200-day simple moving average is $182.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is 50.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTAS. Bank of America lowered their price objective on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings downgraded shares of Cintas from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Truist Financial lowered their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Finally, UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and a consensus target price of $211.25.

Cintas Company 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.