Bank Pictet & Cie Europe AG Purchases 48,000 Shares of Cintas Corporation $CTAS

Bank Pictet & Cie Europe AG lifted its position in Cintas Corporation (NASDAQ:CTAS) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 562,184 shares of the business services provider’s stock after buying an additional 48,000 shares during the quarter. Cintas comprises 2.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 12th largest holding. Bank Pictet & Cie Europe AG’s holdings in Cintas were worth $109,660,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in Cintas during the first quarter valued at approximately $25,000. Whipplewood Advisors LLC lifted its stake in Cintas by 1,712.5% in the first quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 137 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Cintas in the second quarter worth approximately $27,000. Archer Investment Corp bought a new stake in Cintas in the first quarter worth approximately $32,000. Finally, Highland Investment Advisors LLC bought a new stake in Cintas in the second quarter worth approximately $32,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTAS. UBS Group restated a “buy” rating and set a $235.00 price target (up from $230.00) on shares of Cintas in a research note on Thursday, September 24th. Rothschild & Co Redburn lifted their price objective on shares of Cintas from $184.00 to $198.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Citigroup upped their price objective on shares of Cintas from $180.00 to $181.00 and gave the stock a “sell” rating in a report on Wednesday, September 30th. Sanford C. Bernstein reissued a “market perform” rating on shares of Cintas in a research report on Thursday, September 10th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $206.00 target price on shares of Cintas in a report on Thursday, September 24th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.50.

Cintas Stock Performance

NASDAQ:CTAS traded up $2.80 during midday trading on Tuesday, reaching $215.10. The stock had a trading volume of 491,497 shares, compared to its average volume of 2,106,106. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $219.16. The firm’s fifty day simple moving average is $201.19 and its 200-day simple moving average is $187.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. The stock has a market capitalization of $85.41 billion, a P/E ratio of 42.42, a PEG ratio of 3.40 and a beta of 0.92.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The business’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities research analysts forecast that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th were paid a $0.52 dividend. The ex-dividend date was Friday, August 14th. This is a boost from Cintas’s previous quarterly dividend of $0.45. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 41.03%.

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.