Harvest Fund Management Co. Ltd Has $4.67 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Harvest Fund Management Co. Ltd lessened its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. VSM Wealth Advisory LLC acquired a new position in Cintas in the 4th quarter valued at approximately $40,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Cintas by 97.6% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,470 shares of the business services provider’s stock valued at $1,365,000 after acquiring an additional 3,690 shares in the last quarter. Xponance Inc. raised its holdings in Cintas by 3.3% in the 4th quarter. Xponance Inc. now owns 79,337 shares of the business services provider’s stock valued at $14,495,000 after acquiring an additional 2,511 shares in the last quarter. Intech Investment Management LLC raised its holdings in Cintas by 160.1% in the 4th quarter. Intech Investment Management LLC now owns 325,741 shares of the business services provider’s stock valued at $59,513,000 after acquiring an additional 200,527 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in Cintas in the 4th quarter valued at approximately $8,194,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Truist Financial cut their price target on Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group lowered 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 price objective on shares of Cintas in a research note on Friday, December 20th. Citigroup initiated coverage on Cintas in a research note on Monday, February 24th. They issued a “sell” rating and a $161.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas presently has an average rating of “Hold” and an average target price of $199.79.

Cintas Stock Down 0.9 %

NASDAQ CTAS opened at $193.41 on Wednesday. The firm 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 company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $200.31 and its 200 day simple moving average is $209.11. Cintas Co. has a one year low of $155.89 and a one year high of $228.12.

Cintas (NASDAQ:CTAS) last announced 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. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $3.61 EPS. As a group, sell-side analysts forecast that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Announces Dividend

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

Cintas 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.