Hsbc Holdings PLC Sells 13,435 Shares of Cintas Corporation $CTAS

Hsbc Holdings PLC trimmed its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.5% during the second quarter, Holdings Channel.com reports. The fund owned 896,343 shares of the business services provider’s stock after selling 13,435 shares during the quarter. Hsbc Holdings PLC’s holdings in Cintas were worth $152,342,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. One Capital Management LLC grew its position in Cintas by 0.9% in the 4th quarter. One Capital Management LLC now owns 6,160 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 53 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Cintas by 0.8% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 7,198 shares of the business services provider’s stock worth $1,236,000 after buying an additional 58 shares during the last quarter. Sachetta LLC increased its position in shares of Cintas by 46.0% during the first quarter. Sachetta LLC now owns 200 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 63 shares during the last quarter. Ausdal Financial Partners Inc. lifted its holdings in Cintas by 2.8% during the second quarter. Ausdal Financial Partners Inc. now owns 2,287 shares of the business services provider’s stock worth $510,000 after acquiring an additional 63 shares during the period. Finally, Elyxium Wealth LLC boosted its position in Cintas by 4.9% in the fourth quarter. Elyxium Wealth LLC now owns 1,368 shares of the business services provider’s stock worth $257,000 after purchasing an additional 64 shares during the last quarter. Institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

CTAS has been the topic of a number of recent analyst reports. Truist Financial lowered their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, June 15th. UBS Group reaffirmed a “buy” rating and issued a $230.00 price target (up from $228.00) on shares of Cintas in a report on Thursday, July 16th. Argus raised Cintas to a “strong-buy” rating in a research report on Friday, July 17th. Bank of America raised Cintas from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $250.00 price objective (up from $245.00) on shares of Cintas in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $212.31.

Cintas Trading Down 1.3%

Shares of CTAS stock opened at $204.76 on Wednesday. The stock has a market capitalization of $81.94 billion, a price-to-earnings ratio of 54.75, a PEG ratio of 3.35 and a beta of 0.92. The company’s fifty day simple moving average is $192.37 and its two-hundred day simple moving average is $185.24. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $219.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.27.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, July 15th. The business services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 earnings per share. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, analysts anticipate that Cintas Corporation will post 5.49 earnings per share for the current year.

Cintas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a dividend of $0.52 per share. This is a boost from Cintas’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Cintas’s payout ratio is currently 55.61%.

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.