Banque Pictet & Cie SA Sells 2,820 Shares of Cintas Co. (NASDAQ:CTAS)

Banque Pictet & Cie SA reduced its position in shares of Cintas Co. (NASDAQ:CTAS) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,092 shares of the business services provider’s stock after selling 2,820 shares during the quarter. Banque Pictet & Cie SA’s holdings in Cintas were worth $28,883,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Guardian Wealth Advisors LLC grew its stake in shares of Cintas by 3.1% during the 4th quarter. Guardian Wealth Advisors LLC now owns 1,741 shares of the business services provider’s stock valued at $318,000 after purchasing an additional 52 shares during the period. MGB Wealth Management LLC lifted its position in shares of Cintas by 0.7% during the 4th quarter. MGB Wealth Management LLC now owns 7,248 shares of the business services provider’s stock valued at $1,328,000 after buying an additional 52 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of Cintas by 2.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,803 shares of the business services provider’s stock valued at $512,000 after buying an additional 55 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Cintas by 3.3% during the 4th quarter. S.A. Mason LLC now owns 1,703 shares of the business services provider’s stock valued at $311,000 after buying an additional 55 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in shares of Cintas by 5.5% during the 4th quarter. Simon Quick Advisors LLC now owns 1,213 shares of the business services provider’s stock valued at $222,000 after buying an additional 63 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTAS. 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 report on Friday, December 20th. Wells Fargo & Company lowered their price target on Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Morgan Stanley boosted their price target on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a report on Friday, December 20th. Finally, Truist Financial lowered their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two equities 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. According to data from MarketBeat.com, Cintas has an average rating of “Hold” and an average price target of $198.46.

Cintas Stock Performance

NASDAQ:CTAS opened at $205.99 on Friday. 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 Co. has a 1 year low of $150.94 and a 1 year high of $228.12. The stock’s 50 day simple moving average is $197.78 and its two-hundred day simple moving average is $207.45. The company has a market cap of $83.13 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 3.95 and a beta of 1.38.

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

Cintas Announces Dividend

The business 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. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th. Cintas’s dividend payout ratio is currently 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.