Cintas Corporation $CTAS Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its Cintas stake by 7.3% in the fourth quarter, selling 70,206 shares and ending with 892,223 shares valued at about $168.1 million.
• Another insider move came from director Ronald W. Tysoe, who sold 4,666 shares on April 20, trimming his position by 17.21%.
• Cintas recently reported quarterly EPS of $1.24, matching estimates, while revenue of $2.84 billion came in slightly above expectations; analysts currently rate the stock Hold on average with a $215.92 price target.

Hsbc Holdings PLC lowered its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 892,223 shares of the business services provider's stock after selling 70,206 shares during the quarter. 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 institutional investors and hedge funds have also made changes to their positions in CTAS. One Capital Management LLC lifted its position in shares of Cintas by 0.9% during the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider's stock valued at $1,159,000 after buying an additional 53 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in Cintas by 1.1% during the fourth quarter. Richardson Financial Services Inc. now owns 5,058 shares of the business services provider's stock valued at $951,000 after purchasing an additional 54 shares in the last quarter. Woodward Diversified Capital LLC grew its position in shares of Cintas by 4.8% in the fourth quarter. Woodward Diversified Capital LLC now owns 1,288 shares of the business services provider's stock valued at $242,000 after purchasing an additional 59 shares during the period. Mather Group LLC. grew its position in shares of Cintas by 1.4% in the fourth quarter. Mather Group LLC. now owns 4,381 shares of the business services provider's stock valued at $824,000 after purchasing an additional 59 shares during the period. Finally, Ausdal Financial Partners Inc. grew its position in shares of Cintas by 2.8% in the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider's stock valued at $510,000 after purchasing an additional 63 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 4,666 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the transaction, the director directly owned 22,448 shares in the company, valued at $4,015,273.76. The trade was a 17.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.90% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Cintas Price Performance

Cintas stock opened at $170.85 on Friday. Cintas Corporation has a 52-week low of $161.16 and a 52-week high of $226.75. The firm has a market capitalization of $68.36 billion, a price-to-earnings ratio of 48.26, a PEG ratio of 2.72 and a beta of 0.94. The company has a fifty day simple moving average of $173.50 and a 200-day simple moving average of $183.88. 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 (NASDAQ:CTAS - Get Free Report) last issued its earnings results on Wednesday, March 25th. The business services provider reported $1.24 EPS for the quarter, meeting analysts' consensus estimates of $1.24. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. On average, equities analysts anticipate that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 15th. Cintas's dividend payout ratio (DPR) is 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.

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