Cintas Corporation $CTAS Shares Acquired by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG increased its Cintas stake by 9.3% in the third quarter, acquiring 48,000 additional shares. Institutional investors collectively own 63.46% of CTAS.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $218.50; targets range from $181 to $240.
• Cintas reported quarterly earnings and revenue above expectations, with EPS of $1.39 and revenue of $3.01 billion, while revenue grew 10.9% year over year. The company also raised its quarterly dividend to $0.52 per share.

Bank Pictet & Cie Europe AG raised its holdings in shares of Cintas Corporation (NASDAQ:CTAS - Free Report) by 9.3% in the third quarter, according to its most recent Form 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 period. Cintas comprises approximately 2.1% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 12th biggest position. Bank Pictet & Cie Europe AG owned approximately 0.14% of Cintas worth $109,660,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTAS. BlackRock Inc. bought a new stake in shares of Cintas during the 2nd quarter worth $4,520,425,000. Bank of New York Mellon Corp acquired a new position in shares of Cintas in the 2nd quarter valued at $644,334,000. Amundi boosted its position in shares of Cintas by 6.3% in the 1st quarter. Amundi now owns 2,402,362 shares of the business services provider's stock valued at $406,336,000 after purchasing an additional 142,576 shares during the period. Legal & General Group Plc acquired a new position in shares of Cintas in the 2nd quarter valued at $386,159,000. Finally, Pictet Asset Management Holding SA increased its stake in Cintas by 8.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,167,957 shares of the business services provider's stock worth $366,673,000 after purchasing an additional 165,752 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Argus boosted their price objective on Cintas from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, September 29th. Citigroup raised their target price on shares of Cintas from $180.00 to $181.00 and gave the stock a "sell" rating in a report on Wednesday, September 30th. Robert W. Baird set a $222.00 target price on shares of Cintas and gave the stock an "outperform" rating in a research report on Thursday, September 24th. Rothschild & Co Redburn lifted their target price on shares of Cintas from $184.00 to $198.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Finally, UBS Group restated a "buy" rating and set a $235.00 price target (up from $230.00) on shares of Cintas in a report on Thursday, September 24th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $218.50.

Cintas Stock Up 1.3%

Shares of CTAS stock traded up $2.80 during trading on Tuesday, hitting $215.10. 491,497 shares of the company were exchanged, compared to its average volume of 2,106,106. The business's 50-day simple moving average is $201.19 and its 200 day simple moving average is $187.68. Cintas Corporation has a twelve month low of $161.16 and a twelve month high of $219.16. The firm has a market capitalization of $85.41 billion, a price-to-earnings ratio of 42.42, a P/E/G ratio of 3.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.29 and a current ratio of 1.45.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.04. Cintas had a net margin of 17.82% and a return on equity of 42.57%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the business earned $1.20 EPS. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. As a group, analysts forecast that Cintas Corporation will post 5.52 EPS for the current fiscal year.

Cintas Increases Dividend

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

Cintas Company Profile

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.

Want to see what other hedge funds are holding CTAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cintas Corporation (NASDAQ:CTAS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.