Pictet Asset Management Holding SA Has $280.78 Million Stake in Cintas Co. (NASDAQ:CTAS)

Pictet Asset Management Holding SA boosted its stake in shares of Cintas Co. (NASDAQ:CTAS) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,536,834 shares of the business services provider’s stock after acquiring an additional 92,591 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.38% of Cintas worth $280,780,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTAS. Sound Income Strategies LLC bought a new position in Cintas in the 4th quarter worth approximately $27,000. Cyrus J. Lawrence LLC bought a new stake in Cintas during the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. acquired a new position in Cintas during the 4th quarter valued at about $31,000. IAG Wealth Partners LLC boosted its stake in shares of Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Cintas in the fourth quarter valued at approximately $34,000. 63.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTAS has been the topic of several recent research reports. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $215.00 target price on shares of Cintas in a report on Thursday. UBS Group increased their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their price objective on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Truist Financial lifted their target price on Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average target price of $207.57.

Cintas Price Performance

NASDAQ:CTAS opened at $206.25 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $200.91 and its two-hundred day moving average price is $208.87. Cintas Co. has a 12-month low of $162.16 and a 12-month high of $228.12. The firm has a market capitalization of $83.23 billion, a price-to-earnings ratio of 49.73, a P/E/G ratio of 3.98 and a beta of 1.41.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.84 earnings per share. On average, analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 14th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, February 14th. Cintas’s dividend payout ratio is currently 36.11%.

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.