Hsbc Holdings PLC Has $152.34 Million Position in Cintas Corporation $CTAS

Hsbc Holdings PLC decreased its position in shares of Cintas Corporation (NASDAQ:CTAS) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 896,343 shares of the business services provider’s stock after selling 13,435 shares during the period. Hsbc Holdings PLC owned about 0.22% of Cintas worth $152,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. AMG National Trust Bank bought a new stake in shares of Cintas during the 2nd quarter valued at approximately $1,973,000. Summit Global Investments bought a new stake in shares of Cintas in the second quarter worth $950,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Cintas in the second quarter worth $4,972,000. TimesSquare Capital Management LLC acquired a new stake in Cintas in the second quarter valued at $62,057,000. Finally, Riverbridge Partners LLC raised its position in Cintas by 7.7% during the 1st quarter. Riverbridge Partners LLC now owns 229,158 shares of the business services provider’s stock worth $38,760,000 after purchasing an additional 16,437 shares during the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $204.76 on Wednesday. The firm has a market capitalization of $81.94 billion, a P/E ratio of 54.75, a P/E/G ratio of 3.35 and a beta of 0.92. The firm’s 50-day moving average price is $192.37 and its 200-day moving average price is $185.24. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16.

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

Cintas Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on CTAS. Weiss Ratings raised Cintas from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 price objective on shares of Cintas in a research report on Thursday, July 16th. Truist Financial reduced their target price on Cintas from $255.00 to $225.00 and set a “buy” rating on the stock in a report on Monday, June 15th. Robert W. Baird raised their price target on shares of Cintas from $200.00 to $214.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $212.31.

Cintas Profile

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.