Cintas Co. (NASDAQ:CTAS) Stock Holdings Trimmed by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lowered its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 8.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,415 shares of the business services provider’s stock after selling 2,264 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cintas were worth $4,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Cintas by 28.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,563 shares of the business services provider’s stock worth $1,199,000 after buying an additional 1,450 shares in the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Cintas by 121.8% in the 4th quarter. KMG Fiduciary Partners LLC now owns 11,545 shares of the business services provider’s stock worth $2,109,000 after buying an additional 6,341 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cintas by 211.7% in the 3rd quarter. Wellington Management Group LLP now owns 778,884 shares of the business services provider’s stock worth $160,357,000 after buying an additional 529,005 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Cintas by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,222,527 shares of the business services provider’s stock worth $457,574,000 after buying an additional 1,286,668 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in shares of Cintas by 1.6% in the 4th quarter. Annex Advisory Services LLC now owns 127,441 shares of the business services provider’s stock worth $23,283,000 after buying an additional 1,988 shares in the last quarter. Institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS opened at $193.41 on Wednesday. The company has a market cap of $78.05 billion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The stock has a 50-day moving average of $200.31 and a 200-day moving average of $209.11. Cintas Co. has a 52-week low of $155.89 and a 52-week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.61 EPS. As a group, equities research analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.81%. Cintas’s dividend payout ratio is presently 37.59%.

Analyst Ratings Changes

A number of analysts have recently commented on CTAS shares. UBS Group dropped their price objective on Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company cut their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, December 20th. Citigroup initiated coverage on Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 target price on the stock. Truist Financial cut their target price on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Morgan Stanley boosted their target price on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.79.

Cintas Company Profile

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.