Harvest Fund Management Co. Ltd Increases Position in Cintas Co. (NASDAQ:CTAS)

Harvest Fund Management Co. Ltd lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714 shares of the business services provider’s stock after purchasing an additional 268 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cintas were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Janiczek Wealth Management LLC boosted its holdings in Cintas by 113.0% in the 4th quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock worth $30,000 after buying an additional 26 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after buying an additional 19 shares during the last quarter. Impact Partnership Wealth LLC boosted its holdings in Cintas by 2,050.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 86 shares of the business services provider’s stock worth $41,000 after buying an additional 82 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Cintas by 66.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 85 shares of the business services provider’s stock worth $41,000 after buying an additional 34 shares during the last quarter. Finally, Ancora Advisors LLC boosted its holdings in Cintas by 2,833.3% in the 3rd quarter. Ancora Advisors LLC now owns 88 shares of the business services provider’s stock worth $43,000 after buying an additional 85 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research analyst reports. Truist Financial lifted their price objective on Cintas from $660.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Royal Bank of Canada boosted their target price on Cintas from $675.00 to $725.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer restated a “market perform” rating on shares of Cintas in a report on Monday, April 1st. The Goldman Sachs Group boosted their target price on Cintas from $673.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Finally, UBS Group boosted their target price on Cintas from $680.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $661.21.

Cintas Trading Up 0.2 %

Shares of CTAS stock traded up $1.33 during trading on Tuesday, hitting $666.33. 542,825 shares of the stock traded hands, compared to its average volume of 346,891. The firm has a market capitalization of $67.55 billion, a P/E ratio of 46.02, a price-to-earnings-growth ratio of 3.87 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.38 and a quick ratio of 2.03. The firm’s fifty day moving average price is $645.27 and its 200-day moving average price is $591.22. Cintas Co. has a 52-week low of $438.59 and a 52-week high of $704.84.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating the consensus estimate of $3.58 by $0.26. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.14 EPS. As a group, research analysts forecast that Cintas Co. will post 14.95 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Wednesday, May 15th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, May 14th. Cintas’s payout ratio is 37.29%.

About Cintas

Cintas Corporation provides 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.