Bank Pictet & Cie Europe AG Raises Position in Cintas Co. (NASDAQ:CTAS)

Bank Pictet & Cie Europe AG increased its holdings in Cintas Co. (NASDAQ:CTAS) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 514,336 shares of the business services provider’s stock after purchasing an additional 3,504 shares during the quarter. Cintas accounts for 2.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 12th biggest position. Bank Pictet & Cie Europe AG’s holdings in Cintas were worth $93,969,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CTAS. CX Institutional raised its position in Cintas by 308.1% in the 3rd quarter. CX Institutional now owns 1,975 shares of the business services provider’s stock worth $407,000 after purchasing an additional 1,491 shares during the period. Creative Planning increased its position in shares of Cintas by 356.6% in the third quarter. Creative Planning now owns 88,354 shares of the business services provider’s stock valued at $18,190,000 after acquiring an additional 69,003 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Cintas in the third quarter valued at about $231,000. Good Life Advisors LLC purchased a new position in shares of Cintas in the third quarter valued at about $1,255,000. Finally, Global Retirement Partners LLC increased its position in shares of Cintas by 321.9% in the third quarter. Global Retirement Partners LLC now owns 21,889 shares of the business services provider’s stock valued at $4,507,000 after acquiring an additional 16,701 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTAS shares. UBS Group decreased their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Morgan Stanley boosted their price objective on shares of Cintas from $185.00 to $202.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Truist Financial decreased their price objective on shares of Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $198.46.

Cintas Trading Down 0.9 %

NASDAQ:CTAS opened at $204.22 on Friday. Cintas Co. has a one year low of $152.77 and a one 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. The company’s 50-day simple moving average is $197.43 and its 200 day simple moving average is $207.44. The firm has a market capitalization of $82.41 billion, a P/E ratio of 49.24, a PEG ratio of 3.95 and a beta of 1.38.

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

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. Cintas’s dividend payout ratio is presently 37.61%.

About Cintas

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.