Hsbc Holdings PLC Has $168.11 Million Stock Position in Cintas Corporation $CTAS

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

Other large investors have also made changes to their positions in the company. Nemes Rush Group LLC acquired a new position in Cintas in the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new stake in Cintas during the 4th quarter worth $25,000. Camelot Portfolios LLC bought a new stake in shares of Cintas during the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cintas during the 4th quarter valued at $26,000. Finally, Key Capital Management INC acquired a new position in shares of Cintas in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

CTAS has been the topic of several recent research reports. Truist Financial reduced their price target on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, June 15th. Robert W. Baird upgraded Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a report on Wednesday, March 11th. Bank of America cut their target price on Cintas from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Weiss Ratings cut Cintas from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Stifel Nicolaus decreased their target price on Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.25.

Insiders Place Their Bets

In other news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $178.87, for a total value 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 represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.90% of the company’s stock.

Cintas Stock Performance

NASDAQ:CTAS opened at $181.37 on Friday. Cintas Corporation has a fifty-two week low of $161.16 and a fifty-two week high of $226.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The stock has a market capitalization of $72.56 billion, a PE ratio of 51.23, a price-to-earnings-growth ratio of 2.89 and a beta of 0.94. The business’s 50-day simple moving average is $172.75 and its 200-day simple moving average is $182.99.

Cintas Announces Dividend

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