Bank Pictet & Cie Europe AG Acquires 3,504 Shares of Cintas Co. (NASDAQ:CTAS)

Bank Pictet & Cie Europe AG boosted its holdings in Cintas Co. (NASDAQ:CTAS) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 514,336 shares of the business services provider’s stock after acquiring an additional 3,504 shares during the quarter. Cintas accounts for approximately 2.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 12th biggest holding. Bank Pictet & Cie Europe AG owned 0.13% of Cintas worth $93,969,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. increased its stake in Cintas by 341.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares during the last quarter. Hollencrest Capital Management increased its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Cintas during the 4th quarter worth approximately $27,000. Addison Advisors LLC increased its stake in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the last quarter. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of Cintas during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, December 20th. 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 note on Friday, December 20th. The Goldman Sachs Group decreased their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Morgan Stanley raised their price target on shares of Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird decreased their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $198.46.

Cintas Stock Performance

NASDAQ CTAS opened at $204.22 on Friday. Cintas Co. has a 52-week low of $152.77 and a 52-week high of $228.12. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The company has a market capitalization of $82.41 billion, a P/E ratio of 49.24, a P/E/G ratio of 3.95 and a beta of 1.38. The company has a fifty day moving average of $197.43 and a 200-day moving average of $207.44.

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

Cintas Dividend Announcement

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