Y Intercept Hong Kong Ltd Makes New Investment in Cintas Co. (NASDAQ:CTAS)

Y Intercept Hong Kong Ltd bought a new stake in Cintas Co. (NASDAQ:CTAS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 34,650 shares of the business services provider’s stock, valued at approximately $6,331,000. Cintas accounts for 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 25th biggest holding.

Several other large investors have also modified their holdings of CTAS. Union Bancaire Privee UBP SA purchased a new position in Cintas during the 4th quarter worth $268,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Cintas by 19.4% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 74,448 shares of the business services provider’s stock worth $13,602,000 after purchasing an additional 12,100 shares in the last quarter. Cabot Wealth Management Inc. lifted its position in Cintas by 1.5% in the fourth quarter. Cabot Wealth Management Inc. now owns 71,329 shares of the business services provider’s stock valued at $13,032,000 after purchasing an additional 1,049 shares during the period. MONECO Advisors LLC boosted its holdings in Cintas by 12.6% in the 4th quarter. MONECO Advisors LLC now owns 3,166 shares of the business services provider’s stock valued at $578,000 after purchasing an additional 355 shares in the last quarter. Finally, Lansing Street Advisors acquired a new position in Cintas during the 4th quarter worth approximately $253,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTAS shares. Robert W. Baird reduced their price target on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Wells Fargo & Company reduced their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a report on Friday, December 20th. UBS Group lowered their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Truist Financial cut their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Price Performance

Shares of NASDAQ:CTAS opened at $204.43 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The business’s fifty day moving average price is $196.53 and its two-hundred day moving average price is $208.39. The stock has a market cap of $82.50 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 3.98 and a beta of 1.38. Cintas Co. has a one year low of $154.15 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the company earned $3.61 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts forecast that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is presently 37.59%.

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.