Y Intercept Hong Kong Ltd Makes New $6.33 Million Investment in Cintas Co. (NASDAQ:CTAS)

Y Intercept Hong Kong Ltd purchased a new position in shares of Cintas Co. (NASDAQ:CTAS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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 holdings, making the stock its 25th largest position.

A number of other institutional investors have also modified their holdings of CTAS. State Street Corp boosted its holdings in Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider’s stock valued at $2,996,697,000 after acquiring an additional 10,910,285 shares during the period. FMR LLC lifted its position in shares of Cintas by 297.3% during the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider’s stock worth $1,807,860,000 after purchasing an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the period. Franklin Resources Inc. boosted its stake in shares of Cintas by 264.7% in the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Cintas by 308.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider’s stock valued at $519,419,000 after purchasing an additional 1,904,926 shares in the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTAS. Truist Financial decreased their price target on shares of Cintas from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. The Goldman Sachs Group decreased their price objective on Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird lowered their price objective on Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $198.46.

Cintas Price Performance

Shares of CTAS opened at $204.43 on Monday. The firm has a fifty day moving average price of $196.53 and a 200 day moving average price of $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 1-year low of $154.15 and a 1-year high of $228.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38.

Cintas (NASDAQ:CTAS) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $3.61 EPS. As a group, sell-side analysts anticipate that Cintas Co. will post 4.31 EPS for the current year.

Cintas Dividend Announcement

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