Y Intercept Hong Kong Ltd Cuts Stock Position in Cintas Corporation (NASDAQ:CTAS)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its stake in Cintas Corporation by 88.7%, selling 30,720 shares and retaining only 3,930 shares worth approximately $808,000 as of its latest SEC filing.
• Cintas received several mixed analyst ratings, with price targets adjusted between $171.00 to $239.00, while its current consensus rating stands at "Hold".
• In a recent acquisition, Cintas Director Martin Mucci purchased 1,200 shares at an average price of $222.55, increasing his ownership in the company by 84.45%.

Y Intercept Hong Kong Ltd reduced its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 88.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,930 shares of the business services provider's stock after selling 30,720 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Cintas were worth $808,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in Cintas by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock worth $35,000 after acquiring an additional 134 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Cintas by 646.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider's stock worth $43,000 after acquiring an additional 181 shares during the period. Washington Trust Advisors Inc. bought a new stake in shares of Cintas in the first quarter valued at $46,000. Olde Wealth Management LLC bought a new stake in shares of Cintas in the first quarter valued at $55,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Cintas in the fourth quarter valued at $59,000. 63.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Martin Mucci acquired 1,200 shares of the business's stock in a transaction dated Monday, July 21st. The stock was purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the acquisition, the director owned 2,621 shares of the company's stock, valued at $583,303.55. This trade represents a 84.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.00% of the company's stock.

Cintas Price Performance

Cintas stock traded up $2.57 during midday trading on Tuesday, hitting $222.95. 286,351 shares of the company's stock were exchanged, compared to its average volume of 1,708,256. Cintas Corporation has a 52-week low of $180.78 and a 52-week high of $229.24. The stock has a 50-day moving average price of $221.39 and a two-hundred day moving average price of $209.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.82 and a current ratio of 2.09. The company has a market cap of $90.02 billion, a P/E ratio of 50.46, a PEG ratio of 3.51 and a beta of 1.05.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Thursday, July 17th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Cintas had a return on equity of 41.21% and a net margin of 17.53%. The business had revenue of $2.67 billion during the quarter, compared to analysts' expectations of $2.63 billion. During the same period in the previous year, the business earned $3.99 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that Cintas Corporation will post 4.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CTAS shares. Bank of America started coverage on Cintas in a research note on Thursday, April 10th. They issued a "buy" rating and a $250.00 target price on the stock. Morgan Stanley boosted their target price on Cintas from $213.00 to $220.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. The Goldman Sachs Group boosted their target price on Cintas from $233.00 to $257.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Redburn Atlantic lowered Cintas from a "neutral" rating to a "sell" rating and set a $171.00 target price on the stock. in a research note on Thursday, May 1st. Finally, Wells Fargo & Company upgraded Cintas from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $196.00 to $221.00 in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $224.54.

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.